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The IASB published for public comment an exposure draft of proposed miscellaneous amendments to 25 International Financial Reporting Standards (IFRSs) under its first annual improvements project.
The proposals range from a restructuring of IFRS 1 First-time Adoption of International Financial Reporting Standards, mainly to remove redundant transitional provisions, to minor changes of wording to clarify the meaning and remove unintended inconsistencies between IFRSs.
The IASB discussed the individual proposals during the past year and posted near‑final drafts of them on the Website when it had reached decisions on them. The collective publication of the proposals in a single exposure draft is intended to streamline the standard-setting process, with benefits both for interested parties and for the IASB.
The exposure draft is available on the IASB Website from