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Comment: Proposed amendments to IAS 1

In our letter, we support the Board's objectives and the guiding principle that only rights in place at the reporting date should affect the classification of a liability.  While we believe that the proposed amendments will provide additional clarity, we also believe that the amendments could benefit from further refinement in a number of areas and that additional illustrative examples should be provided to address some of the challenges that have arisen in practice.  Ultimately, we feel that classification of liabilities is a topic which would benefit from a more comprehensive review in due course.

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