The International Accounting Standards Board
(IASB) has proposed amendments to IFRS 10 consolidated
financial statements.

IASB said the amendment aims to clarify the
transition guidance in IFRS 10 by confirming when an entity needs
to apply IFRS 10 retrospectively. The proposal addresses the need
to simplify transition provisions that resulted in being more
burdensome than originally intended.

The effective date of the proposed amendments
would be aligned with the effective date of IFRS 10.

Deadline to comment on the exposure
draft, Transition Guidance (Proposed amendments to IFRS
, is 21 March 2012.