The IASB has just published an Exposure Draft of a revised Conceptual Framework for Financial Reporting in which the IASB proposes to reintroduce an explicit reference to prudence. In this article Steve Cooper, a member of the IASB, explains the IASB’s proposals on prudence.
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The Conceptual Framework Exposure Draft is available here. It is open for comment until 26 October 2015.
On 17 June 2015 the IASB will give a live web presentation on the Exposure Draft Conceptual Framework for Financial Reporting. Full details of the webinar can be found here.