Thursday 27 November 2014
The objective of this research project is to identify and develop a set of principles for disclosure in IFRS that could form the basis of a Standards-level project.
The focus is on reviewing the general requirements in IAS 1 Presentation of Financial Statements, IAS 7 Statement of Cash Flows and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors and considering how they might be revised.
This research project is informed by the Discussion Forum on Financial Reporting Disclosure and a variety of publications by other organisations.
The research activities will also consider the feedback received for the presentation and disclosure section of the Conceptual Framework Discussion Paper This project will not consider the removal or addition of specific disclosure requirements in other Standards. The disclosure requirements in all Standards will be reviewed systematically in the light of the revised Conceptual Framework and of work undertaken in this project.
Nevertheless, it is also possible that during this research project the IASB will identify improvements to disclosure requirements that should be elevated to a Standards level project immediately, such as proposals for narrow-focus amendments to IFRS similar to the recent Disclosure Initiative projects on IAS 1.
Scope of Principles of Disclosure project discussed by the IASB
Principles of Disclosure project discussed at ASAF
Speech by Hans Hoogervorst: 'Breaking the boilerplate'
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