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Hans Hoogervorst delivers speech entitled The Concept of Prudence: dead or alive?

 18 September 2012


Hans Hoogervorst, Chairman of the International Accounting Standards Board (IASB), today delivered a speech entitled The Concept of Prudence: dead or alive? at the Federation of European Accountants (FEE) Conference on Corporate Reporting of the Future in Brussels, Belgium.

Speaking about the removal of the concept of prudence from the IASB’s Conceptual Framework in 2010, Mr Hoogervorst maintained that, despite its removal, the basic tenets of the concept remain intact and visible throughout International Financial Reporting Standards.

Mr Hoogervorst explained that prudence also plays an important role in the development of new Standards, outlining the challenges that the IASB faces in building sufficient levels of caution in developing rules for areas such as Financial Instruments, particularly with regard to impairment.

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  • Mark Byatt, Director of Corporate Communications and External Affairs, IFRS Foundation
    Telephone: +44 (0)20 7246 6472
    Email: mbyatt@ifrs.org 
  • Chris Welsh, Communications Manager, IFRS Foundation
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Related information 

  • Click here to read the speech by Hans Hoogervorst entitled The Concept of Prudence: dead or alive?'
  • Click here for a print-friendly PDF of this press release