20 December 2024To:
Members of the Hong Kong Institute of CPAsAll other interested partiesINVITATION TO COMMENT ON THE IFRS FOUNDATION EXPOSURE DRAFTProposed Amendments to the IFRS Foundation Due Process HandbookComments to be received by 14 February 2025The Financial Reporting Standards Committee (FRSC) of the Hong Kong Institute of CertifiedPublic Accountants (Institute) is seeking comments on the IFRS Foundation Exposure DraftProposed Amendments to the IFRS Foundation Due Process Handbook (Handbook). TheExposure Draft is available on the Institute's website:
https://www.hkicpa.org.hk/en/Standards-setting/Standards/Open-for-comment-documents/fredThe Handbook sets out the due process that applies to the technical activities of the InternationalAccounting Standards Board (IASB), the International Sustainability Standards Board (ISSB) andthe IFRS Interpretations Committee (IC).The Handbook was last updated in 2020, before the ISSB was created. Therefore, the IFRSFoundation Trustees published the Exposure Draft to reflect the creation of the ISSB. Theproposed updates do not change the due process—they primarily ensure the Handbook showsthat the ISSB and the IASB follow the same rigorous, inclusive and transparent standard-settingprocess.The Exposure Draft also includes some proposed enhancements and clarifications to theexplanation of:
•the purpose of post-implementation reviews of IFRS Accounting Standards and IFRSSustainability Disclosure Standards (collectively referred to as the Standards);
•the IC’s work with the IASB to support consistent application of IFRS Accounting Standards;
•the process of consulting on packages of minor improvements to the Standards; and•the review process for education materials.The FRSC invites your comments on the Exposure Draft by 14 February 2025 to allow yourcomments to be considered in developing its response to the IFRS Foundation. Comments shouldbe supported by specific reasoning and should be submitted in written form.Comments may be sent by mail, fax or e-mail to:
Standard Setting DepartmentHong Kong Institute of Certified Public Accountants37th Floor, Wu Chung House213 Queen’s Road EastWanchai, Hong KongFax number (+852) 2865 6776E-mail: commentletters@hkicpa.org.hkComments will be acknowledged and may be made available for public review unless otherwiserequested by the respondent.
Invitation to Comment on the IFRS Foundation Exposure Draft Proposed Amendments to the IFRS Foundation Due Process Handbook
下载原件20 December 2024To:
Members of the Hong Kong Institute of CPAsAll other interested partiesINVITATION TO COMMENT ON THE IFRS FOUNDATION EXPOSURE DRAFTProposed Amendments to the IFRS Foundation Due Process HandbookComments to be received by 14 February 2025The Financial Reporting Standards Committee (FRSC) of the Hong Kong Institute of CertifiedPublic Accountants (Institute) is seeking comments on the IFRS Foundation Exposure DraftProposed Amendments to the IFRS Foundation Due Process Handbook (Handbook). TheExposure Draft is available on the Institute's website:
https://www.hkicpa.org.hk/en/Standards-setting/Standards/Open-for-comment-documents/fredThe Handbook sets out the due process that applies to the technical activities of the InternationalAccounting Standards Board (IASB), the International Sustainability Standards Board (ISSB) andthe IFRS Interpretations Committee (IC).The Handbook was last updated in 2020, before the ISSB was created. Therefore, the IFRSFoundation Trustees published the Exposure Draft to reflect the creation of the ISSB. Theproposed updates do not change the due process—they primarily ensure the Handbook showsthat the ISSB and the IASB follow the same rigorous, inclusive and transparent standard-settingprocess.The Exposure Draft also includes some proposed enhancements and clarifications to theexplanation of:
•the purpose of post-implementation reviews of IFRS Accounting Standards and IFRSSustainability Disclosure Standards (collectively referred to as the Standards);
•the IC’s work with the IASB to support consistent application of IFRS Accounting Standards;
•the process of consulting on packages of minor improvements to the Standards; and•the review process for education materials.The FRSC invites your comments on the Exposure Draft by 14 February 2025 to allow yourcomments to be considered in developing its response to the IFRS Foundation. Comments shouldbe supported by specific reasoning and should be submitted in written form.Comments may be sent by mail, fax or e-mail to:
Standard Setting DepartmentHong Kong Institute of Certified Public Accountants37th Floor, Wu Chung House213 Queen’s Road EastWanchai, Hong KongFax number (+852) 2865 6776E-mail: commentletters@hkicpa.org.hkComments will be acknowledged and may be made available for public review unless otherwiserequested by the respondent.