As you are kindly aware, that the existing Accounting Standards (AS) and the Indian Accounting Standards (Ind AS) are based on the IFRS issued by the International Accounting Standards Board (IASB). The IASB, before issuing the new/amendments to IASs, issues the Exposure Draft for public comments. The Accounting Standards Board (ASB) with the aim to provide an opportunity to the various stakeholders in India to raise their concerns at the Exposure Draft stage itself so that these concerns are appropriately addressed, invites comments on the Exposure Draft issued by the IASB. At present the following document issued by IASB are open for comments:

(i)    Exposure Draft Classification of Liabilities (Proposed Amendments to IAS 1)  (Last date for sending comments: May 10, 2015)

The text of the Exposure Draft is available at the following links on the web-site of the Institute: 

http://www.ifrs.org/Current-Projects/IASB-Projects/IAS-1-classification-liabilities/Exposure-Draft-February-2015/Documents/ED-Classification-of-Liabilities-Amdments-to-IAS-1-February-2015.pdf

How to comment

Comments should be submitted using one of the following methods: 

1. Electronically:    Click on the below mentioned option to submit a comment letter or Visit at the following link:

                                   http://www.icai.org/comments/asb/   

1. Email:               Comments can be sent to: commentsasb@icai.in 

1. 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 achin.poddar@icai.in.