The International Accounting Standards Board published for public comment Wednesday an exposure draft of five proposed amendments to four International Financial Reporting Standards under its annual improvements project.

The project provides a process to efficiently deal with a collection of narrow-scope amendments to the IFRS.

The proposed amendments address issues discussed by the IASB in the project cycle that began in 2012. They also meet the criteria for the IASB Due Process Handbook’s annual improvements process, which help decide whether a matter relating to the clarification or correction of IFRS should be addressed using the process.

The proposed effective date for the amendments is for annual periods beginning on or after Jan. 1, 2016, with the IASB proposing the entities would be permitted to apply them earlier. The IASB requests comments on the exposure draft, Annual Improvements to IFRSs 2012-2014 Cycle, which can be accessed on the project website or on the “comment on a proposal” page at, by March 2014.

More information on the criteria for topics in the annual improvements project is available here.