The International Accounting Standards Board (IASB) and the IFRS Interpretations Committee (IFRS IC) carry out a number of activities to support the understanding and consistent application of IFRS Accounting Standards. From time to time, IFRS IC issues Agenda Decisions to explain how the applicable principles and requirements in IFRS Standards apply to a transaction or fact pattern. For this purpose, it first issues a tentative agenda decision seeking public comments from across the globe.

The Accounting Standards Board (ASB) of ICAI with the aim to provide an opportunity to the various stakeholders in India to raise their concerns  and participate in International Standard-setting and implementation related activities, invites comments on the consultative documents issued by the IASB and IFRS IC.

Recently, the IFRS IC has issued the following tentative agenda decision for public comments:

• Guarantees Issued on Obligations of Other Entities

How to comment:

Further clarifications on this TAD may be sought by e-mail to asb@icai.in.