IASB Proposes Severe Hyperinflation Amendment to IFRS 1

The International Accounting Standards Board (IASB) has published for public comment an exposure draft, Severe Hyperinflation, a proposed amendment to IFRS 1 First-time Adoption of International Financial Reporting Standards.


The amendment proposes guidance on how an entity should resume presenting financial statements in accordance with International Financial Reporting Standards (IFRSs) after a period when the entity was unable to comply with IFRSs because its functional currency was subject to severe hyperinflation.


The exposure draft is open for comment until 30 November 2010.






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