In our letter we comment upon the Effects Analysis IASB consultation regarding “IFRS exposure draft amending its Dues Process Handbook“.
We believe our response to the IFRS exposure draft could set a benchmark for both IFRS and FASB as to how “Effects Analyses” should address bank-specific concerns. In addition, it includes a discussion related to expanding the IFRS Foundation’s standard due process to their “Agenda Decisions”, which are interpretations of existing standards. While subject to IASB approval, these Agenda Decisions can often change bank accounting practice and, therefore, should be subject to a robust review process.
IBFed Comments IFRS Due Process Effects Analysis_25 July 2019