IASB September 2009

Conceptual framework: objectives and qualitative characteristics

The Board discussed comments and questions raised in their review of the initial drafts of chapters 1 and 3 of the conceptual framework - Objectives of financial reporting and Qualitative characteristics of, and constraints on, useful financial information. During the course of that discussion, the Board provided some suggestions as to how some of its tentative decisions made in prior meetings could be expressed more clearly but did not change any of its previous tentative decisions.

Conceptual framework: reporting entity

The Board discussed comments and questions raised in their review of the initial draft of the exposure draft on the Reporting Entity chapter of the conceptual framework. During the course of that discussion, the Board provided some suggestions as to how some of its tentative decisions made in prior meetings could be expressed more clearly but did not change any of its previous tentative decisions.