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Annual Improvements to IFRS Standards 2018–2020

May, 23rd 2019

Introduction

The Exposure Draft proposes amendments in the following Standards on below subjects:

Standard	Subject of proposed amendment
IFRS 1 First-time Adoption of International Financial Reporting Standards	Subsidiary as a first-time adopter of IFRS Standards
IFRS 9 Financial Instruments	Fees included in the ‘10 percent’ test for derecognition of financial liabilities.
Illustrative Examples accompanying IFRS 16 Leases	Lease incentives
IAS 41 Agriculture	Taxation in fair value measurements

Invitation to comment

ASB invites comments on the Exposure Draft from the public. The downloadable version is available at: https://resource.cdn.icai.org/55328asb44673.pdf

How to comment

Comments should be submitted using one of the following methods, so as to be received not later than July 8, 2019.

1. Electronically:	Visit at the following link (Preferred method): http://www.icai.org/comments/asb/
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