Exposure Drafts

 

• ICAI Exposure Drafts
• CBDT Exposure Draft
• CCI Exposure Drafts
• IRDAI Exposure Draft
• SEBI Exposure Drafts
• RBI Exposure Drafts
• PCAOB Exposure Drafts
• IFRS Exposure Drafts
• FASB Exposure Drafts
• IAASB Exposure Drafts
• AICPA Exposure Draft
• FRC Exposure Drafts

 

    

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ICAI Exposure Drafts:

• Exposure Draft of Supplier Finance Arrangements - Amendments to Ind AS 7 and Ind AS 107
  [Last date for Comments: August 25, 2023] 
• Exposure Draft of International Tax Reform-Pillar Two Model Rules - Amendments to Ind AS 12
  [Last date for Comments: August 25, 2023] 
• Exposure Draft of International Tax Reform-Pillar Two Model Rules - Amendments to AS 22
  [Last date for Comments: August 25, 2023] 
• Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961 - AY 2023-24
  (Effective for the AY 2023-24 and subject to amendments made by law, judiciary or administration, for the subsequent assessment years)
  [Last date for Comments: August 6, 2023] 
• Exposure Drafts on various Engagement and Quality Control Standards
  [Last date for comments: August 25, 2023]
  
  1. SQM 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements
  2. SQM 2, Engagement Quality Reviews
  3. SA 220(Revised), Quality Management for an Audit of Financial Statements
  4. SA 250(Revised), Consideration of Laws and Regulations in an Audit of Financial Statements
  5. SA 315(Revised), Identifying and Assessing the Risks of Material Misstatement
  6. SA 540(Revised), Auditing Accounting Estimates and Related Disclosures
  7. SRS 4400(Revised), Agreed-Upon Procedures Engagements
  8. Conforming Amendments to Other Standards arising from SQM 1, SQM 2 and SA 220(Revised)
  9. Conforming Amendments to Other Standards arising from SA 250(Revised)
  10. Conforming Amendments to Other Standards arising from SA 315(Revised)
  11. Conforming Amendments to Other Standards arising from SA 540(Revised)
        
    
• The Chartered Accountants (Second Amendment) Regulations, 2023
  [Last date for comments: August 9, 2023]
    
• Exposure Drafts of Guidance Notes on Forensic Accounting and Investigation Standards (FAIS)
  [Last date for comments: June 21, 2023]
  
  1. Guidance Note – FAIS 000: Over Arching Documents
     
  2. Guidance Note - FAIS 110 : Nature of Engagement
     
  3. Guidance Note - FAIS 120 : Fraud Risk
     
  4. Guidance Note - FAIS 130 : Laws and Regulations
     
  5. Guidance Note - FAIS 140 : Applying Hypotheses
     
  6. Guidance Note - FAIS 210 : Engagement Objectives
     
  7. Guidance Note - FAIS 220 : Engagement Acceptance and Appointment
     
  8. Guidance Note - FAIS 230 : Using the Work of An Expert
     
  9. Guidance Note - FAIS 240 : Engaging with Agencies
     
  10. Guidance Note - FAIS 250 : Communication with Stakeholders
      
  11. Guidance Note - FAIS 310 : Planning the Assignment
      
  12. Guidance Note - FAIS 320 : Evidence and Documentation
      
  13. Guidance Note - FAIS 330 : Conducting Work Procedures
      
  14. Guidance Note - FAIS 340 : Conducting Interviews
      
  15. Guidance Note - FAIS 350 : Review and Supervision
      
  16. Guidance Note - FAIS 360 : Testifying Before a Competent Authority
      
  17. Guidance Note - FAIS 410 : Applying Data Analysis
      
  18. Guidance Note - FAIS 420 : Evidence Discovery in Digital Domain
      
  19. Guidance Note - FAIS 430 : Loans Or Borrowings
      
  20. Guidance Note - FAIS 510 : Reporting Results
      
  21. Guidance Note - FAIS 610 : Quality Control
         

  

CBDT Exposure Draft:

• Draft Form No. 6C - Section 142(2A) regarding inventory valuation
  [Last date for Comments: August 31, 2023] 

  

    

CCI Exposure Drafts:

• Draft ‘The Competition Commission of India (Combinations) Regulations, 2023’
  Background Note
  Draft Combinations Regulations
  [Last date for Comments: September 25, 2023] 
    
• Draft ‘The Competition Commission of India (Settlement) Regulations, 2023’
  Background Note
  Draft Settlement Regulations
  [Last date for Comments: September 13, 2023] 
    
• Draft ‘The Competition Commission of India (Commitment) Regulations, 2023’
  Background Note
  Draft Commitment Regulations
  [Last date for Comments: September 13, 2023] 

  

    

IRDAI Exposure Drafts:

• Exposure Draft for Customer Information Sheet / Know Your Policy
  [Last date for Comments: September 13, 2023] 

  

    

SEBI Exposure Drafts:

• Consultation Paper on Performance Validation Agency
  [Last date for Comments: September 21, 2023] 
• Consultation Paper on Flexibility in the framework on Social Stock Exchange (SSE)
  [Last date for Comments: September 19, 2023] 
• Consultation Paper on mechanism for fee collection by SEBI registered Investment Advisers and Research Analysts
  [Last date for Comments: September 15, 2023] 
• Consultation Paper on Association of SEBI Registered Intermediaries/Regulated Entities with Unregistered Entities (including Finfluencers)
  [Last date for Comments: September 15, 2023] 
• Consultation Paper on permitting increased participation of Non – Resident Indians (NRIs) and Overseas Citizens of India (OCIs) into SEBI registered Foreign Portfolio Investors (FPIs) based out of International Financial Services Centres (IFSCs) in India and regulated by the International Financial Services Centres Authority (IFSCA)
  [Last date for Comments: September 10, 2023] 
• Consultation Paper on Recognition of Body Corporate for Administration and Supervision of Research Analysts
  [Last date for Comments: September 12, 2023] 
• Consultation Paper on Review of Voluntary Delisting norms under SEBI (Delisting of Equity Shares) Regulations, 2021
  [Last date for Comments: September 4, 2023] 
• Consultation paper on review of framework for borrowings by Large Corporates
  [Last date for Comments: August 31, 2023] 
• Consultation Paper on collating and defining use cases of Financial Information Users in the Account Aggregator Framework in Securities Markets
  [Last date for Comments: August 31, 2023] 
• Consultation paper on ‘Prudential norms for exposure of Clearing Corporations’
  [Last date for Comments: August 10, 2023] 

  

RBI Exposure Drafts:

• Draft Master Direction on Treatment of Wilful Defaulters and Large Defaulters
  [Last date for Comments: October 31, 2023] 
• Draft Circular on Arrangements with Card Networks for issue of Debit, Credit and Prepaid Cards
  [Last date for Comments: August 4, 2023] 

  

    

PCAOB Exposure Drafts:

• Proposed Amendments to PCAOB Rule 3502 Governing Contributory Liability
  [Last date for Comments: November 3, 2023] 
• Proposed Amendments Related to Aspects of Designing and Performing Audit Procedures that Involve Technology-Assisted Analysis of Information in Electronic Form
  [Last date for Comments: August 28, 2023] 
• Amendments to PCAOB Auditing Standards related to a Company’s Noncompliance with Laws and Regulations And Other Related Amendments
  [Last date for Comments: August 7, 2023] 

  

IFRS Exposure Drafts:

• Annual Improvements — Volume 11
  [Last date for Comments: December 11, 2023] 
• Post-implementation Review
  IFRS 15 Revenue from Contracts with Customers
  [Last date for Comments: October 27, 2023] 
• IFRS Sustainability Disclosure Standards - Consultation on Agenda Priorities
  [Last date for Comments: September 1, 2023] 

  

FASB Exposure Drafts:

• Proposed ASU: Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
  [Last date for Comments: October 30, 2023] 
• Proposed ASU: Financial Instruments—Credit Losses (Topic 326) - Purchased Financial Assets
  [Last date for Comments: August 28, 2023]  

  

IAASB Exposure Drafts:

• Proposed International Standard on Sustainability Assurance 5000
  General Requirements for Sustainability Assurance Engagements
  and
  Proposed Conforming and Consequential Amendments to Other IAASB Standards
  [Last date for Comments: December 1, 2023] 
• Explanatory Memorandum for Proposed International Standard on Sustainability AssuranceTM (ISSA) 5000
  General Requirements for Sustainability Assurance Engagements
  [Last date for Comments: December 1, 2023] 
• Proposed International Standard on Auditing 570 (Revised 202X)
  Going Concern and Proposed Conforming and Consequential Amendments to Other ISAs
  [Last date for Comments: August 24, 2023] 

  

AICPA Exposure Draft:

• Proposed Statement on Standards for Attestation Engagements
  [Last date for Comments: December 1, 2023] 

  

FRC Exposure Drafts:

• Ethical Standard 2023
  Key changes
  [Last date for Comments: October 31, 2023] 
• Proposed International Standard on Auditing (UK) 505 (Revised)
  External Confirmations
  [Last date for Comments: September 1, 2023] 
• Consultation Paper - Corporate Governance Code
  [Last date for Comments: September 13, 2023]
• Consultation Paper - Technical Actuarial Standards for Pensions
  [Last date for Comments: August 4, 2023]