Annual Improvements to IFRS Standards 2018-2020

The Exposure Draft proposes amendments in the following Standards on below subjects:



Subject of proposed amendment

IFRS 1 First-time Adoption of International Financial Reporting Standards

Subsidiary as a first-time adopter of IFRS Standards


IFRS 9 Financial Instruments

Fees included in the ‘10 percent’ test for derecognition of financial liabilities.

Illustrative Examples accompanying IFRS 16 Leases

Lease incentives

IAS 41 Agriculture

Taxation in fair value measurements


 Comments on the abovementioned Exposure Draft may be submitted through any of the following modes, so as to be received not later than July 8, 2019:






Click on 'submit a comment letter' below (Preferred method)






Comments can be sent to:












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

Comment letter deadline

The Exposure Draft is open for comment until 8th July, 2019

Due process documents
Annual Improvements to IFRS Standards 2018-2020  [PDF]