Comments on IASB Consultation Paper: Effective Dates and Transition Methods – 31/01/11

31 Jan 2011

IBFed has provided views to the IASB on the appropriate Effective Dates and Transition Methods for a range of new IFRSs and improvements to existing IFRSs, including IFRS 9.

In responding, IBFed has supported a single date approach for key standards impacting on financial institutions and pointed out a vital need to provide further transitional assistance.  In addition, IBFed expressed a preference for the IASB and FASB to align the effective dates for comparable standards.

The IBFed letter is available here.