Thursday 12 December 2013
The objective of this project is to make narrow-focus amendments to IAS 1 Presentation of Financial Statements to help alleviate some of the problems that have been identified with disclosure in financial reporting.
This project proposes some amendments to IAS 1, which seek to address concerns raised during the Agenda Consultation 2011, in research carried out for the IASB and during the Financial Reporting Disclosure Discussion Forum and the related survey.
These amendments are intended to clarify, rather than significantly change, existing IAS 1 requirements. In most cases the proposed amendments respond to what IASB staff view as excessively literal interpretations of the wording in IAS 1.
The IASB will discuss these amendments to IAS 1, along with other narrow-scope amendments to that Standard arising through the Interpretations Committee, in the second half of 2013. Subject to approval and deliberations by the IASB, an Exposure Draft is expected to be published in Quarter 1 of 2014.
Speech by Hans Hoogervorst: 'Breaking the boilerplate'
Potential IAS 1 amendments and drafting of disclosure requirements discussed at joint CMAC/GPF meeting
IASB publishes Feedback Statement on Disclosure Forum, calls for behavioural change regarding financial information disclosure
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