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Tuesday 30 September 2014

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Description of FSP outreach activities


 

In June 2010, the boards decided to engage in additional outreach activities before finalising and publishing an exposure draft on financial statement presentation. Those activities will focus primarily on two areas: (1) the perceived benefits and costs of the proposals and (2) the implications of the proposals for financial reporting by financial services entities.

In July 2010 the staff of the IASB and the FASB posted on each board’s website a staff draft of an exposure draft that reflects the boards’ cumulative tentative decisions on financial statement presentation, concluding with their joint meeting in April 2010. The proposals in that staff draft (draft proposals) are the basis for the staff outreach activities.

As noted in the introduction and summary that accompanied the staff draft, the boards are not formally inviting comments on the staff draft; however, they welcome input from interested parties. If you are interested in discussing the draft proposals with members of the staff or boards please contact the IASB’s Outreach Coordinator, Jennifer Wilson ( jwilson@iasb.org). We will do our best to meet (by video conference or phone and, in some circumstances, in person) with as many interested parties as possible. Any entity that chooses to apply the draft proposals to their financial statements is encouraged to share their experiences with the staff. Please contact Regenia Cafini ( rdcafini@fasb.org).  Click here for more information.