ACCA is pleased to have this opportunity to comment on the above consultation document which was considered by ACCA’s Financial Reporting Committee.
In considering the annual improvements it is undesirable for there to be too many amendments to the standards and so IASB should consider carefully whether any proposed amendment is needed.
The boundary between what could be in the annual improvement process and what could be an interpretation is not very distinct. However we are not concerned by this as long as both are subject to due process consultation and to approval by the IASB.
We support the amendments proposed.
