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Saturday 19 April 2014

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Conceptual Framework


Due process steps

Stage 3: Discussion Paper

 

Step Required/
Optional
Metrics or
evidence
Actions
Discussion or Research Paper development:
DP developed in public meetings.


Or


Decision to publish an RP is made in a public meeting, with a clear statement of the extent of the IASB’s involvement.

Optional

Meetings held to discuss the topic.

Project website contains a full description with up-to-date information.

Meeting papers have been posted in a timely fashion.

Decision was supported by a paper and reported in the IASB Update.

The IASB discussed the Conceptual Framework DP at its meetings in November, and December 2012 and January, February, March and April 2013.

Website is up to date.

Papers for the IASB meetings were posted before each meeting.

A summary of the meeting and any preliminary views reached was included in IASB update.

Consultation with the IFRS Advisory Council (the ‘Advisory Council’) has occurred.

Optional

Discussions with the Advisory Council on the topic.

The Advisory Council have received updates on the progress of the project but have not yet held detailed discussions on the project.

Project-specific updates are sent via email alerts to registered users.

Optional

Frequency of alerts provided.

Not done during development of the DP. We plan to set up project specific updates going forward.

Consultative groups are established depending on the nature of issues and the level of interest among interested parties.

Optional

Argument provided for or against the use of the consultative group.

Extent of consultative group meetings that have been held.

Feedback to the consultative group has been provided.

The Accounting Standards Advisory Forum will act as the IASB’s consultative group on the CF project.

The ASAF met in April 2013 and discussed the CF project

Online survey to generate evidence in support of or against a particular approach.

Optional

Survey shown on the IASB website.

Number and diversity of respondents.

Analysis of the response.

A survey on disclosures was undertaken in December 2012.

A survey on other aspects of the Conceptual Framework is not considered necessary at this point.

Outreach meetings to promote debate and hear views on the financial reporting issue that is being examined.

Optional

Schedule of the outreach meetings.

Limited outreach has been undertaken (see paragraph 21)

Public discussions with representative groups.

Optional

Meetings held.

The CF project has been discussed with the following representative groups:
  • GPF (March 2013)
  • CMAC (March 2013)
  • ASAF (April 2013)

 

Regional discussion forums, where possible, with national standard-setters with the IASB.

Optional

Extent of meetings held and the venues where issues have been discussed.

Not undertaken at this stage.

Podcasts to provide interested parties with high level updates or other useful information about the specific project.

Optional

Number of podcasts.

Number of participants on podcasts.

Podcasts on the project have been made available on the IASB website following each IASB meeting.

Publication:
DP or RP has appropriate comment period.

Required

The IASB has set the comment period.

If outside the normal comment period, an explanation from the IASB to the DPOC has been provided, and the decision has been approved.

To be discussed at the May 2013 IASB meeting.

Press release to announce publication of the DP.

Optional

Release was announced in a timely fashion.

Media coverage of the release.

Planned

Snapshot document to explain the rationale and basic concepts included in the DP.

Optional

Snapshot prepared at the time of the release.

Planned

Webcast of interactive presentations streamed in real time from the IASB’s office.

Optional

Number of webcasts held.

Planned

The IASB determines if focused investor consultation is required to supplement the comment letters.

Required if DP issued

Staff Paper.

Planned

The IASB determines if focused investor consultation is required to supplement the comment letters.

Required if DP issued

Staff Paper.

Planned

Request for additional comment and suggestions by conducting fieldwork.

Optional

Meetings held.

Field work is not considered necessary for this project.

Round-table meetings between external participants and members of the IASB.

Optional

Number of participants in round-table meetings and venues for the round-table meetings confirmed.

Planned