Page 80 - FR Integrated Workbook 2018-19
P. 80

Chapter 6




               1.4  Standard setting process

                    the Board identifies a subject requiring a new standard

                    the Board establishes an Advisory Committee to recommend appropriate
                     treatment

                    an Exposure Draft is issued for public comment

                    having considered comments received, the Board publishes the standard


               1.5  National standard setters

                    committed to a framework of standards based on IFRS Standards


                    trend towards harmonisation means national standards are unlikely to be
                     produced that conflict with IFRS Standards




                  Illustrations and further practice



                  Further detail can be found in Chapter 6 of your Study Text.










































               74
   75   76   77   78   79   80   81   82   83   84   85