IASB proposals to help first-time adopters of IFRS

The International Accounting Standards Board (IASB) has published for public comment proposals to provide further exemptions from the requirements of International Financial Reporting Standards (IFRS) when they are adopted for the first time. The proposals are set out in an Exposure Draft of proposed amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards. A press release was also issued.