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Accounting Standards Board The Institute of Chartered Accountants of India 10th May, 2023 Exposure Draft on Amendments to the Classification and Measurement of Financial Instruments (Proposed amendments to IFRS 9 and IFRS 7) Indian Accounting Standards (Ind AS) are based on the IFRS Standards issued by the International Accounting Standards Board (IASB) of IFRS Foundation. The IASB, before issuing the new/amendments to IFRS Standards, issues consultative documents [such as Discussion Pap
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FAQ :
The Exposure Draft proposes amendments to IFRS 9 and IFRS 7 concerning the classification and measurement of financial instruments, aiming to clarify existing requirements.
The Exposure Draft was issued by the International Accounting Standards Board (IASB) and is being presented for public comment by the Accounting Standards Board (ASB) of the Institute of Chartered Accountants of India (ICAI).
The proposed amendments cover the derecognition of a financial liability settled through electronic transfer, clarification on classifying financial assets, and amendments or additions to disclosure requirements in IFRS 7.
Comments can be submitted electronically via the ICAI website, by email to commentsasb@icai.in, or by post to the Secretary, Accounting Standards Board, ICAI.
Comments must be received no later than June 10, 2023.
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