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In March 2021, the International Accounting Standards Board (Board) published the Exposure Draft Disclosure Requirements in IFRS Standards—A Pilot Approach. The Exposure Draft sets out a proposed new approach to developing and drafting disclosure requirements in IFRS Standards as well as new disclosure requirements for IFRS 13 Fair Value Measurement and IAS 19 Employee Benefits.

The Board is seeking feedback by 12 January 2022 on whether those proposals would help companies and other stakeholders improve the usefulness of information disclosed in financial statements. Feedback will help the Board determine whether and how to use the proposed new approach in its future standard-setting activities and whether to finalise the amendments to IFRS 13 and IAS 19.

IASB® Update July 2021

The Board met on 21 July 2021 and decided to extend the comment period for the Exposure Draft Disclosure Requirements in IFRS Standards—A Pilot Approach from 210 days to 293 days, so that it ends on 12 January 2022. The Board noted that this unusually long comment period is justified only because of the unique nature of, and significant new thinking in, the proposals. In particular, the comment period will allow more time for preparers to conduct fieldwork and provide feedback on the practical application of the proposals. 

All 12 Board members agreed with this decision.  

Next milestone

Exposure Draft Feedback


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