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Accounting Standards Board The Institute of Chartered Accountants of India 12th December, 2023 Exposure Draft on Financial Instruments with Characteristics of Equity - Proposed amendments to IAS 32, IFRS 7 and IAS 1 Indian Accounting Standards (Ind AS) are based on the IFRS Standards iss
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FAQ :
The Exposure Draft addresses financial instruments that have characteristics of both debt (financial liabilities) and equity (ordinary shares), proposing amendments to IAS 32, IFRS 7, and IAS 1.
The proposals include clarifying classification principles for distinguishing financial liabilities from equity, requiring additional disclosures for complex instruments, and separating presentation of amounts attributable to ordinary shareholders.
The ICAI is inviting comments from various stakeholders in India to provide an opportunity to raise concerns at the initial international standard-setting stage.
The deadline for submitting comments on the Exposure Draft is February 10, 2024.
Comments can be submitted electronically via the ICAI website, by email to commentsasb@icai.in, or by post to the Accounting Standards Board, ICAI, New Delhi.
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