The Institute's Financial Reporting Technical Committee has responded to the International Accounting Standards Board's Exposure Draft IASB/ED/2024/8- Provisions – Targeted Improvements Proposed amendments to IAS 37
In its response, the Institute outlined some areas where the proposed amendments to the IAS 37 standard could be improved. These include;
- A recommendation that examples are included within Application Guidance to the standard
- A recommendation that the difference between a “transfer” and “exchange of economic resources” is better explained, and
- Concerns regarding the proposed deletion of paragraph 18 of IAS 37
The response in full can be viewed
on the Institute website.