The IASB published an exposure draft of proposed amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards and IAS 27 Consolidated and Separate Financial Statements - Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate for public comment.

The proposals addressed concern that retrospectively determining cost in accordance with IAS 27 on first-time adoption of International Financial Reporting Standards (IFRSs) could not, in some circumstances, be achieved without undue cost or effort of which creating a barrier to entities which adopted IFRSs in separate financial statements.