Featured Product

    IFRS Foundation Decides to Prioritize Project on Enhancing Disclosures

    March 21, 2019

    IFRS Foundation published a document summarizing work of IASB on the research project on principles of disclosure under the Disclosure Initiative. The document summarizes the research performed by IASB—including feedback received on the March 2017 discussion paper titled “Disclosure Initiative—Principles of Disclosure”—and the conclusions reached in light of that research.

    The research project showed that the different activities considered in the discussion paper could be of benefit to some stakeholders. However, respondents asked IASB to identify the activities that would be most effective in helping to address the disclosure problem and narrow the focus of the project accordingly. Almost all respondents to the discussion paper said that the way disclosure requirements are developed and drafted in the IFRS standards is one contributor to the disclosure problem.

    From March to July 2018, IASB reviewed the findings of the project and feedback from stakeholders. After reviewing the evidence gathered, IASB decided that improving the way disclosure requirements are developed and drafted in the IFRS standards is the most effective way it can help to address the disclosure problem. Consequently, IASB decided to prioritize its Targeted Standards Level Review of Disclosures project. IASB also decided to address research findings about accounting policy disclosures, the implications of technology on financial reporting, and the use of performance measures in financial statements. However, IASB has decided not to pursue the remaining topics in the discussion paper at this time.

     

    Keywords: International, Accounting, Disclosure Initiative, Financial Statements, Reporting, Disclosures, IASB, IFRS

    Featured Experts
    Related Articles
    News

    EBA Updates List of Validation Rules for Reporting by Banks

    EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.

    September 10, 2020 WebPage Regulatory News
    News

    EBA Responds to EC Call for Advice to Strengthen AML/CFT Framework

    EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).

    September 10, 2020 WebPage Regulatory News
    News

    NGFS Advocates Environmental Risk Analysis for Financial Sector

    NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.

    September 10, 2020 WebPage Regulatory News
    News

    MAS Issues Guidelines to Promote Senior Management Accountability

    MAS published the guidelines on individual accountability and conduct at financial institutions.

    September 10, 2020 WebPage Regulatory News
    News

    APRA Formalizes Capital Treatment and Reporting of COVID-19 Loans

    APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.

    September 09, 2020 WebPage Regulatory News
    News

    SRB Chair Discusses Path to Harmonized Liquidation Regime for Banks

    SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.

    September 09, 2020 WebPage Regulatory News
    News

    FSB Workshop Discusses Preliminary Findings of Too-Big-To-Fail Reforms

    FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.

    September 09, 2020 WebPage Regulatory News
    News

    ECB Updates List of Supervised Entities in EU in September 2020

    ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.

    September 08, 2020 WebPage Regulatory News
    News

    OSFI Identifies Focus Areas to Strengthen Third-Party Risk Management

    OSFI published the key findings of a study on third-party risk management.

    September 08, 2020 WebPage Regulatory News
    News

    FSB Extends Implementation Timeline for Framework on SFTs

    FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.

    September 07, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5796