Just got today April 08, 2010 an email from IFRS alert regarding IAS 37 – Liabilities project.
The IASB staff have prepared a staff paper discussing one aspect of the working draft IFRS to replace IAS 37 Provisions, Contingent Liabilities and Contingent Assets.
The paper explains how the recognition criteria would apply to liabilities arising from lawsuits. Its purpose is to help people understand the recognition criteria before they comment on the revised measurement proposals in the Exposure Draft Measurement of Liabilities in IAS 37.
Further information is available on the Liabilities page of the IASB website.
