Omment on a standard of the International Accounting Standards Board

Financial analysts frequently adjust the annual accounts of enterprises on behalf of the financial analysis. If the financial analysts would have had a casting vote in the determination of reporting standards, these standards might look considerably different than they do now.

The assignment is:
Comment on a standard of the International Accounting Standards Committee / Board about a certain subject from the view of a financial analyst. For example, assume you have to write a comment on the standard or the paper for an association of investment analysts.

By means of an example from an annual report, you can point out which adjustments and / or extra information is desirable from the perspective of the financial analysis.

The due process at the International Accounting Standards Board goes off as follows:

Standards are developed using an an international consultation process, the Due process . This process comprises six stages:
1 Setting the agenda
2 Planning the project
3 Developing and publishing the discussion paper
4 Developing and publishing the exposure draft
5 Developing and publishing the standard
6 After the standard is issued

Usually, a discussion paper is published at first, after which comments are collected and processed. Next, an exposure draft is published, after which again comments are collected and processed. Sometimes, a re-exposure is published, after which once more comments are collected and processed. And at last, this leads to a standard. In the exposure drafts, opinions are collected on the way certain aspects should be treated.

The questions in the exposure draft can be of use when forming an opinion. For a lot of standards the exposure drafts are no longer available. For other standards you can find them on In the comment letters you will find actual questions and problems. Of course you can also use other sources, if the exposure draft and the comment letters are not available for the standard (or paper) of your choice.
(By the way, the standards of the IASB are often processed, with minimal adaptations, in the Dutch guidelines for the annual reporting).

You can find a list of actual standards on (first: register)