Comment letters to other organisations

International standards in the areas of accounting and auditing are ordinarily developed through a process in which standard setters issue exposure drafts for public comment before the standards are finalised. When such exposure drafts are of particular relevance to banking supervisors, the Basel Committee analyses the proposals and offers its views in a comment letter. A number of such letters from the Basel Committee (in PDF format) are included below, as they often have a wider interest.


May 2017 Exposure Draft on Prepayment Features with Negative Compensation (Proposed Amendments to IFRS 9)
Feb 2016 Exposure Draft of an IFRS Practice Statement: Application of Materiality to Financial Statements
Feb 2016 Exposure Draft: Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts (Proposed amendments to IFRS 4)
Dec 2015 Request for Views: 2015 Agenda Consultation
Nov 2015 Request for Views: Trustees' Review of Structure and Effectiveness: Issues for the Review
Nov 2015 Exposure Draft of the Conceptual Framework for Financial Reporting
Oct 2014 IASB discussion paper - Accounting for Dynamic Risk Management: a Portfolio Revaluation Approach to Macro Hedging
Jan 2014 IASB discussion paper - A Review of the Conceptual Framework for Financial Reporting
Jun 2013 IASB exposure draft (ED/2013/3) Financial Instruments: Expected Credit Losses
Mar 2013 IASB exposure draft (ED/2012/14) Classification and Measurement Limited Amendments to IFRS 9 (proposed amendments to IFRS 9 (2010))
Dec 2012 IASB/FASB Financial Instruments: Impairment
Nov 2011 IASB request for views: Agenda Consultation 2011
July 2011 IFRS report of the IFRS Foundation Trustees' Strategy Review
July 2011 IASB/FASB Financial Instruments: Impairment (three bucket approach)
May 2011 IASB financial Instruments: Offsetting Financial Assets and Financial Liabilities
Apr 2011 IFRS Foundation governance (Monitoring Board)
Apr 2011   Financial Instruments: Impairment
Feb 2011 IFRS Foundation's Strategy Review
Jan 2011 Request for views on effective dates and transition methods
Dec 2010 IASB: Exposure Draft - Leases
Sep 2010 IASB: Exposure Draft - Presentation of Items of Other Comprehensive Income
Sep 2010 FASB: Accounting for Financial Instruments and Revisions to the Accounting for Derivative Instruments and Hedging Activities
Jun 2010 IASB Financial Instruments: Amortised Cost and Impairment
Sep 2009 BCBS HLWG Response to IASB's RFI - Expected loss model
Sep 2009 Exposure Draft - ED/2009/7 'Financial Instruments: Classification and Measurement'
Apr 2009 IASB recent FASB amendments on (1) fair value measurement and (2) impairment requirements for certain investments in debt and equity securities
Apr 2009 IASB discussion paper "Preliminary Views on Financial Statement Presentation"
Apr 2009 FASB: questions raised by the Financial Crisis Advisory Group (FCAG)
Mar 2009 IASCF constitution: Identifying issues for Part 2 of the review
Mar 2009 IASB Exposure draft - ED 10 Consolidated Financial Statements
Sep 2008 IASB discussion paper on Reducing complexity in reporting financial instruments
May 2007 IASB discussion paper on Fair Value Measurements
Nov 2006 IASB discussion paper - "Preliminary views on an improved conceptual framework for financial reporting: the objective of financial reporting and qualitative characteristics of decision-useful financial reporting information"
May 2006 Canadian Accounting Standards Board's discussion paper on "Measurement bases for financial accounting - measurement on initial recognition"
May 2006 Discussion paper "Management Commentary"
Mar 2005 IASB's Fair Value Option Proposal - views of the Basel Committee
Nov 2004 IASB "Comments on ED7 financial instruments disclosure proposal"
Jul 2004 IASB "Comments on the IAS 39 fair value option proposal"
Feb 2004 IASC Foundation "Identifying Issues for the IASC Foundation Constitution Review"
Nov 2003 IASB "Comments on IAS 39 macro-hedging proposal"
Nov 2003 IASB "Exposure Draft ED 5 Insurance Contracts"
Mar 2003 IASB "Exposure Draft ED2 Share-based Payment"
Oct 2002 IASB "Exposure Draft of proposed Amendments to IAS 32 and 39 on Financial Instruments Accounting, Presentation, and Disclosure"
Sep 2002 IASB "Exposure Draft of proposed Improvements to International Accounting Standards"
Sep 2001 IASB "Financial Instruments and Similar Items" (The JWG Fair Value Proposal)
Aug 2001 IASB "Proposed IAS 39 Implementation Guidance - Batch VI"
Feb 2001 IASB "Proposed IAS 39 Implementation Guidance - Batch V"
Nov 2000 IASB "Proposed IAS 39 Implementation Guidance - Batch IV"
Aug 2000 IASB "Proposed IAS 39 Implementation Guidance - Batch III"
Aug 2000 IASB "Proposed IAS 39 Implementation Guidance - Batch II"
Jul 2000 IASB "Proposed IAS 39 Implementation Guidance - Batch I"


Aug 2017 Exposure Draft: Proposed International Standard on Auditing 540 (Revised), Auditing Accounting Estimates and Related Disclosures
May 2016 Invitation to Comment: Enhancing Audit Quality in the Public Interest: A Focus on Professional Skepticism, Quality Control and Group Audits
Sep 2015 Exposure Draft: Responding to Non-Compliance with Laws and Regulations
Sep 2014 Exposure Draft: Proposed Changes to the International Standards on Auditing (ISAs) - Addressing Disclosures in the Audit of Financial Statements
Jul 2014 IAASB exposure draft: Proposed ISA 720 (Revised) The Auditor's Responsibilities Relating to Other Information
Apr 2014 IAASB consultation paper: The IAASB's Proposed Strategy for 2015-2019, and The IAASB's Proposed Work Program for 2015-2016
Dec 2013 IAASB exposure draft: Reporting on Audited Financial Statements: Proposed New and Revised International Standards on Auditing (ISAs)
Mar 2013 Letter to the International Auditing and Assurance Standards Board (IAASB)
IAASB invitation to comment: ISA 720 (Revised) The Auditor's Responsibilities Relating to Other Information in Documents Containing or Accompanying Audited Financial Statements and the Auditor's Report Thereon
Oct 2012 IAASB invitation to comment: Improving the Auditor's Report
Sep 2011 IAASB consultation paper for "Enhancing the Value of Auditor Reporting: Exploring Options for Change"
Jun 2011 IAASB discussion paper: The Evolving Nature of Financial Reporting: Disclosure and Its Audit Implications
Apr 2011 IAASB consultation paper: Proposed Strategy and Work Program for 2012-2014
Feb 2011 IAASB combined exposure drafts: "Proposals Relating to International Auditing Practice Statements (IAPS)" and "Proposed IAPS 1000, Special Considerations in Auditing Complex Financial Instruments"
Nov 2010 IAASB exposure drafts ISA 315 (revised) and ISA 610 (revised)
Jan 2010 IAASB consultation paper - Auditing complex financial instruments
Jan 2010 IOSCO public comment on the consultation report "Transparency of firms that audit public companies"
Apr 2009 IAASB Completion of the Clarity Project
May 2008 IAASB exposure draft ASAE 3402, assurance reports on controls at a third party service organisation
Apr 2008 IAASB exposure draft ISA 265, communicating deficiencies in internal control and related confirming amendments to other ISAs
Apr 2008 IAASB exposure draft ISA 402 (revised and redrafted), audit considerations relating to an entity using a third party service organisation
Apr 2008 IAASB exposure draft ISA 210, agreeing the terms of audit engagements and related conforming amendments to other ISAs
Feb 2008 IAASB exposure draft ISA 505 (revised and redrafted), external confirmations
Feb 2008 IAASB exposure draft ISA 620 (revised and redrafted). Using the work of an auditor's expert
Dec 2007 IAASB exposure drafts ISA 220, Quality Control for an Audit of Financial Statements and ISQC 1, Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements
Nov 2007 IAASB consultation paper - proposed strategy for 2009-2011
Oct 2007 IESBA exposure draft for section 290 of the code of ethics, independence - audit and review engagements and section 291 of the code of ethics, independence - other assurance engagements
Sep 2007 IAASB exposure draft ISA 200 (revised and redrafted), overall objective of the independent auditor, and the conduct of an audit in accordance with international standards on auditing
Sep 2007 IAASB exposure draft ISA 500 (redrafted), Considering the Relevance and Reliability of Audit Evidence
Jul 2007 IAASB exposure draft ISA 250 (redrafted), The Auditor's Responsibilities Relating to Laws and Regulations in an Audit of Financial Statements
Jun 2007 IAASB exposure draft ISA 550 (revised and redrafted), Related parties
Apr 2007 IAASB exposure draft ISA 540 (revised and redrafted) and the proposed withdrawal of ISA 545
Apr 2007 IAASB exposure draft ISA 580 (revised and redrafted), written representations
Apr 2007 IESBA exposure drafts on the proposed revised section 290 of the code of ethics and the proposed new section 291
Mar 2007 IAASB exposure drafts of redrafted International Standards on Auditing: ISA 230, Audit documentation; ISA 560, Subsequent events; ISA 610, The auditor's consideration of the internal audit function; and ISA 720, The auditor's responsibility in relation to other information in documents containing audited financial statements
Feb 2007 IAASB exposure draft ISA 260 (revised), Communication with those charged with governance, ISA 320, Materiality in planning and performing an audit, and ISA 450, Evaluation of misstatements identified during the audit
Jul 2006 IAASB exposure draft ISA 600 (revised and redrafted), the audit of group financial statements
Apr 2006 Exposure draft on 'Related Parties'
Feb 2006 Exposure draft on 'Improving the Clarity of IAASB Standards'
Oct 2005 IFAC Exposure Draft on the Proposed Revised Code of Ethics
Jul 2005 IAASB Exposure Drafts on group audits, auditor communications, modified audit opinions and the use of emphasis of matter or other matter paragraphs in the independent auditor's report
May 2005 IAASB Exposure Drafts on Materiality and Auditing Estimates
Mar 2005 IAASB Exposure Drafts on Clarity and Documentation
Apr 2004 IAASB Exposure Drafts on Group Audits and The Auditor's Report
Dec 2003 IFAC Exposure Draft on the Proposed Revised Code of Ethics
Sep 2003 IAASB Exposure Drafts on Quality Control
Apr 2003 IAASB Exposure Drafts on Audit Risk
Mar 2003 IFAC and IAASB Exposure Drafts: "Proposed Terms of Reference", "Preface to the International Standards on Quality Control, Auditing, Assurance and Related Services" and "Operations Policy No 1 - Bold Type Lettering"
Jan 2002 FAC "Auditing Fair Value Measurements And Disclosures: Proposed International Standard on Auditing"
Nov 2001
IFAC "Consultation on the Public Oversight Board, Forum of Firms and Transnational Auditors Committee"
Nov 2001 IFAC "Consultation on the Public Oversight Board, Forum of Firms and Transnational Auditors Committee"
Sep 2001 IFAC "Report and Recommendations from the IAPC Review Task Force"
Jun 2001 IFAC "Code of Ethics for Professional Accountants"
Feb 2001 IFAC "The Audit of International Commercial Banks"
Oct 2000 IFAC "Code of Ethics for Professional Accountants"