6 May 2020To:
Members of the Hong Kong Institute of CPAsAll other interested partiesINVITATION TO COMMENT ON IASB EXPOSURE DRAFTED/2020/3 Classification of Liabilities as Current or Non-current—Deferral ofEffective DateProposed amendment to IAS 1Comments to be received by 25 May 2020The Financial Reporting Standards Committee (FRSC) of the Hong Kong Institute ofCertified Public Accountants (Institute) is seeking comments on the IASB Exposure DraftED/2020/3. The Exposure Draft is available on the Institute's website:
http://www.hkicpa.org.hk/en/standards-and-regulations/standards/financial-reporting/exposure-drafts/The International Accounting Standards Board (IASB) proposes to defer by one year theeffective date of Classification of Liabilities as Current or Non-current, which amends IAS 1Presentation of Financial Statements.The IAS 1 amendments were issued in January 2020, effective for annual reporting periodsbeginning on or after 1 January 2022. However, in response to the covid-19 pandemic, theIASB is proposing to provide companies with more time to implement any classificationchanges resulting from the amendments by deferring the effective date by one year toannual reporting periods beginning on or after 1 January 2023. The IASB is not proposingany changes to the original amendments other than the deferral of the effective date.The IASB has responded quickly to provide support to stakeholders at this difficult time.Accordingly, the IASB’s comment period on the proposal is short—30 days.The Institute plans to issue equivalent amendments to HKAS 1 Presentation of FinancialStatements once the IASB issues the final amendment to IAS 1 to defer the effective date.The FRSC invites your comments on the proposal as set out in the ED by 25 May 2020 toallow your comments to be considered in developing its response to the IASB. Commentsshould be 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 unlessotherwise requested by the respondent.
Invitation to Comment on IASB Exposure Draft ED/2020/3 Classification of Liabilities as Current or Non-current—Deferral of Effective Date (Proposed amendment to IAS 1)
下载原件6 May 2020To:
Members of the Hong Kong Institute of CPAsAll other interested partiesINVITATION TO COMMENT ON IASB EXPOSURE DRAFTED/2020/3 Classification of Liabilities as Current or Non-current—Deferral ofEffective DateProposed amendment to IAS 1Comments to be received by 25 May 2020The Financial Reporting Standards Committee (FRSC) of the Hong Kong Institute ofCertified Public Accountants (Institute) is seeking comments on the IASB Exposure DraftED/2020/3. The Exposure Draft is available on the Institute's website:
http://www.hkicpa.org.hk/en/standards-and-regulations/standards/financial-reporting/exposure-drafts/The International Accounting Standards Board (IASB) proposes to defer by one year theeffective date of Classification of Liabilities as Current or Non-current, which amends IAS 1Presentation of Financial Statements.The IAS 1 amendments were issued in January 2020, effective for annual reporting periodsbeginning on or after 1 January 2022. However, in response to the covid-19 pandemic, theIASB is proposing to provide companies with more time to implement any classificationchanges resulting from the amendments by deferring the effective date by one year toannual reporting periods beginning on or after 1 January 2023. The IASB is not proposingany changes to the original amendments other than the deferral of the effective date.The IASB has responded quickly to provide support to stakeholders at this difficult time.Accordingly, the IASB’s comment period on the proposal is short—30 days.The Institute plans to issue equivalent amendments to HKAS 1 Presentation of FinancialStatements once the IASB issues the final amendment to IAS 1 to defer the effective date.The FRSC invites your comments on the proposal as set out in the ED by 25 May 2020 toallow your comments to be considered in developing its response to the IASB. Commentsshould be 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 unlessotherwise requested by the respondent.