The Accounting Standards Board (ASB) of the Institute of Chartered Accountants of India (ICAI) has invited comments from stakeholders on an exposure draft issued by the International Accounting Standards Board (IASB) relating to amendments to IAS 28, Investments in Associates and Joint Ventures.
Indian Accounting Standards (Ind AS) are largely converged with the IFRS Standards issued by the IASB under the IFRS Foundation. Before issuing new standards or amendments, the IASB releases consultative documents such as Discussion Papers (DPs) and Exposure Drafts (EDs) to seek feedback from stakeholders worldwide. In line with this process, the ASB of ICAI circulates these consultative documents in India to provide an opportunity for Indian stakeholders to submit their views at an early stage of international standard-setting. This also enables entities in India to remain informed about potential changes and prepare for the implementation of Ind AS in line with global developments.
Recently, the IASB issued an exposure draft proposing amendments to IAS 28, specifically relating to the fair value option. The exposure draft proposes amendments to paragraphs 18 and 19 of IAS 28 to clarify that an entity whose main business activity involves investing in particular types of assets, as described in paragraph 49(a) of IFRS 18, would be eligible to elect the fair value option for investments in associates and joint ventures.
Stakeholders may submit their comments on the exposure draft by 2nd April 2026.
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