We have published our comment letter on the IASB’s Exposure Draft ED/2013/11 ‘Annual Improvements to IFRSs 2012–2014 Cycle’ published in December 2013. We continue to believe that the Annual Improvement Project is an efficient and effective means of dealing with isolated issues within IFRSs that are leading to divergent practice. However, in respect of the 2012-2014 cycle of annual improvements, we are concerned by the proposed amendments to three of the four standards concerned.