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The QCA Financial Reporting Committee responded to the IASB's Exposure Draft – Measurement of Liabilities, which consults on changes to IAS 37 in light of issues arising out of the financial crisis.  The QCA argues that we consider that some of the changes to the standard will make it more difficult to interpret the liability balance on the balance sheet.  We also note that we are not persuaded the proposed guidance is necessary, as we are not
aware of preparers, auditors or users facing significant challenges in applying or interpreting the current guidance.

Click here to read the response (pdf)

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