Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
Professional Updates »
Open DEMAT Account in 24 hrs
 Empanelment of Members to act as Observers at the Examination Centres for the Chartered Accountants Examinations May/June 2024
 Guidance Note on Audit of Banks (2024 Edition)
 Issuance of SA 800 (Revised), SA 805 (Revised), SA 810 (Revised)
 Implementation Guide on Reporting on Audit Trail under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 (Revised 2024 Edition) - (12-02-2024)
 Important Announcement for May-June 2024 CA Examinations
 Draft Bank Branch Auditors' Panel (MEF) for the year 2023-24
 Results of the Chartered Accountants Final and Intermediate Examinations held in November 2023 declared.
 Observations of the candidates on the question papers of CA Foundation examinations - December - 2023
 Inviting suggestions by way of Questionnaire for preparation of ICAI Vision 2049
 Clarifications on the requirement for completion of Advanced ICITSS and the Advanced IT Test thereunder, with reference to eligibility to appear in CA Final examination, under CA Regulations 31(v).
 Exposure Draft on Financial Instruments with Characteristics of Equity - Proposed amendments to IAS 32, IFRS 7 and IAS 1
 Exposure Draft of Guidance Note on Audit of Banks (2024 Edition) issued by the Auditing and Assurance Standards Board
 Information Systems Audit Assessment Test (ISA AT), January 2024
 Exposure Drafts of Standards on Auditing for Limited Liability Partnerships
 One-Time Window for MEF 2023-24

Exposure Draft on Financial Instruments with Characteristics of Equity - Proposed amendments to IAS 32, IFRS 7 and IAS 1
December, 13th 2023
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 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 Paper (DP), Exposure Draft (ED) etc] seeking public comments from across the globe. The Accounting Standards Board (ASB) of ICAI with the aim to provide an opportunity to the various stakeholders in India to raise their concerns at the initial International Standard-setting stage itself, invites comments on the consultative documents issued by the IASB. Recently, the IASB has issued the following Exposure Draft for public comments:

  • Exposure Draft on Financial Instruments with Characteristics of Equity - Proposed amendments to IAS 32, IFRS 7 and IAS 1

In view of challenges in classifying complex financial instruments that combine some characteristics of both debt—financial liabilities—and ordinary shares—equity instruments, the proposals in the Exposure Draft include:

  • 1. clarification of the underlying classification principles of IAS 32 to help companies distinguish between financial liabilities and equity;
  • 2. disclosures to further explain complexities around instruments that have both financial liability and equity characteristics; and
  • 3. presentation requirements for amounts—including profit and total comprehensive income—attributable to ordinary shareholders separately from amounts attributable to other holders of equity instruments.

The above-mentioned Exposure Draft issued by the IASB is open for public comments with last date as February 10, 2024. The downloadable version is available at: https://resource.cdn.icai.org/77633asb62410.pdf

Comments on the abovementioned Exposure Draft may be submitted through any of the following modes:

1. Electronically: Click on http://www.icai.org/comments/asb/ to submit comment online (Preferred method)
2. Email: Comments can be sent to: commentsasb@icai.in
3. Postal Secretary, Accounting Standards Board,
The Institute of Chartered Accountants of India,
ICAI Bhawan, Post Box No. 7100,
Indraprastha Marg, New Delhi 110 002

Further clarifications on this Exposure Draft may be sought by e-mail to asb@icai.in
Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting