Annual improvements to IFRSs 2014-2016 Cycle (ED/2015/11)

IASB's Exposure Draft Annual Improvements to IFRSs 2014-2016 Cycle covers proposed amendments to IFRS 1, IFRS 12 and IAS 28

On 19 November 2015, the International Accounting Standards Board published the Exposure Draft Annual Improvements to IFRSs 2014-2016 Cycle. This covers proposed amendments to IFRS 1, First-time Adoption of International Financial Reporting Standards, IFRS 12, Disclosure of Interest in Other Entities and IAS 28, Investments in Associates and Joint Ventures.

ACCA supports the proposed amendments.

We have made some detailed comments, in particular regarding the interaction of the proposed changes to IFRS 12 and the existing disclosure requirements under IFRS 12 and IFRS 5.