Acca financial Accounting (FA) Study Text ac ca (FA)

Development of an IFRS Standard 

 

The procedure for the development of an IFRS Standard is as follows: 

•

 

The Board identifies a subject and appoints an advisory committee 

to advise on the issues. 

•

 

The Board publishes an exposure draft for public comment, being a 

draft version of the intended standard. 

•

 

Following the consideration of comments received on the draft, the 

Board publishes the final text of the standard. 

•

 

At any stage the Board may issue a discussion paper to encourage 

comment. 

•

 

The publication of an IFRS Standard, exposure draft or IFRIC 

interpretation requires the votes of at least eight of the 15 Board 

members. 

 

 

 

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