IASB proposes amendments under annual improvements project

The International Accounting Standards Board (IASB) has published for public comment an exposure draft of proposed amendments to eleven International Financial Reporting Standards (IFRS) under its annual improvements project. The proposed amendments reflect issues discussed by the IASB in the project cycle that began last year. The proposals range from clarification of the measurement of non-controlling interests in IFRS 3 Business Combinations (as revised in 2008) to changes of wording to clarify the meaning of IFRS and remove unintended inconsistencies. (Read the IASB Press Release and visit the IASB Annual Improvements Project Page.)