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