Exposure draft
The IASB uses public consultation to obtain evidence and views on proposed accounting requirements. It considers the responses before deciding whether and how to finalise the proposals. An exposure draft is not itself a final IFRS Accounting Standard; its publication alone does not make its proposals effective or examinable. Apply the version and examinable-document rules relevant to the reporting or exam period.
Worked example
The IASB proposes amendments to a disclosure standard in an exposure draft. An entity can submit comments but continues to apply existing requirements until a final amendment becomes applicable under the relevant rules.
Common mistake
Applying a proposal as if it were already a final standard or assuming publication of a draft alone determines exam applicability.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | FR | Direct | September 2026–June 2027 |
| ACCA | SBR | Supporting | September 2026–June 2027 |