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Comment: Updating references to the conceptual framework

Grant Thornton International Ltd is pleased to comment on the International Accounting Standards Board's (the Board) Exposure Draft ED/2015/4 Updating References to the Conceptual Framework - Proposed amendments to IFRS 2, IFRS 3, IFRS 4, IFRS 6, IAS 1, IAS 8, IAS 34, SIC-27 and SIC-32. We have considered the ED, as well as the accompanying draft Basis for Conclusions. We agree in general with the proposal to update references from the standards to the revised Conceptual Framework on its finalisation. However, we think that more analysis of the practical effects is needed in a few cases.

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