Tuesday 25 April 2017
The objective of this research project is to improve existing guidance in IFRS Standards that helps entities determine the basic structure and content of a complete set of financial statements.
The focus is on reviewing the general disclosure guidance in IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. The aim is to develop a Disclosure Standard that improves and brings together the principles for determining the basic structure and content of the financial statements, in particular the notes.
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. In addition, the work that the UK FRC has undertaken on the statement of cash flows is currently monitored by the Primary Financial Statements project.
The Principles of Disclosure project was discussed at the March 2017 CMAC meeting
The Principles of Disclosure project was discussed at the March 2017 ASAF meeting
The Principles of Disclosure project was discussed at the October IASB meeting
(eIFRS Basic required)
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