The international standard setter has issued a
proposed amendment to IFRS 1 First-time Adoption of IFRS.

The International Accounting Standards Board
(IASB) proposes guidance on how an entity should resume presenting
financial statements in accordance with IFRS after a period when an
entity is unable to comply with IFRS because its functional
currency is subject to severe hyperinflation.

The IASB has requested comments on its
Severe Hyperinflation draft, by 30 November 2010.

 

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