Arrange the following according to the correct sequence. 46. IASB Due Process 1. An exposure draft, which is IASB’s main vehicle for consulting the public, is published for public comment. 2. All comments received on discussion document and exposure draft are considered. 3. Topics are identified and placed on IASB’s agenda. 4. After the due process is completed, all outstanding issues are resolved, and the IASB members have balloted in favor of publication, the IFRS is issued. 5. After comments on the first exposure draft have been effected, the IASB considers whether to publish its revised proposals for another round of comments.
Arrange the following according to the correct sequence. 46. IASB Due Process 1. An exposure draft, which is IASB’s main vehicle for consulting the public, is published for public comment. 2. All comments received on discussion document and exposure draft are considered. 3. Topics are identified and placed on IASB’s agenda. 4. After the due process is completed, all outstanding issues are resolved, and the IASB members have balloted in favor of publication, the IFRS is issued. 5. After comments on the first exposure draft have been effected, the IASB considers whether to publish its revised proposals for another round of comments.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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- Arrange the following according to the correct sequence.
46. IASB Due Process
1. An exposure draft, which is IASB’s main vehicle for consulting the public, is published for
public comment.
2. All comments received on discussion document and exposure draft are considered.
3. Topics are identified and placed on IASB’s agenda.
4. After the due process is completed, all outstanding issues are resolved, and the IASB
members have balloted in favor of publication, the IFRS is issued.
5. After comments on the first exposure draft have been effected, the IASB considers whether
to publish its revised proposals for another round of comments.
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