Discussion Paper and Comment Letters

In February 2006 the IASB and the FASB published a Memorandum of Understanding (MoU) A Roadmap for Convergence between IFRSs and US GAAP–2006 to 2008, affirming their commitment to convergence.

One of the goals for 2008 set out in the MoU is ‘to have issued one or more due process documents relating to a proposed standard’ on the distinction between liabilities and equity.

This discussion paper, which comprises an Invitation to Comment and the FASB Preliminary Views document, fulfils that commitment. The Invitation to Comment includes background information relevant to International Financial Reporting Standards (IFRSs). It also includes questions for respondents that are in addition to those asked in the FASB document.

Comment Letter deadline

Comments on the Discussion Paper should be sent so as to be received by 5 September 2008.

How to submit a Comment Letter

1. Go to the Comment Letters page.
2. Click Submit Comment Letter button.
3. Log on using your subscription to eIFRS. If you do not have a subscription, and have not previously registered, you will be required to register. Registration is free and only takes 5 minutes.
4. Click Continue button.
5. Locate your Comment Letter on your computer using the Browse button and click Upload button when done.
6. Click Continue button.

All responses will be put on the public record unless the respondent requests confidentiality. However, such requests will not normally be granted unless supported by good reason, such as commercial confidence.