As part of its process to make non-urgent but necessary amendments to IFRS, the IASB has issued an exposure draft – Annual Improvements to IFRSs 2014–2016 Cycle. The proposals clarify that:
The ED also includes an amendment to remove outdated exemptions for first-time adopters of IFRS.
Comments are due to the IASB by 17 February 2016.
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