IFRS Foundation Decides to Prioritize Project on Enhancing Disclosures
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
Related Articles
|
News
US Agencies Consult on Capital Treatment of Land Development LoansUS Agencies (FDIC, FED, and OCC) issued a proposed rule on the treatment of loans that finance the development of land for purposes of the one- to four-family residential properties exclusion in the definition of high volatility commercial real estate (HVCRE) exposure in the regulatory capital rule.
July 12, 2019
WebPage
Regulatory News
|
|
News
EBA Single Rulebook Q&A: Second Update for July 2019Under the Single Rulebook question and answer (Q&A) updates for this week, EBA published answers to five questions related to supervisory reporting.
July 12, 2019
WebPage
Regulatory News
|
|
News
ESMA Updates Manual for European Single Electronic Format in EUESMA updated the reporting manual for European Single Electronic Format (ESEF).
July 12, 2019
WebPage
Regulatory News
|
|
News
FED Updates Supplemental Instructions for Reporting Form FR Y-9CFED updated the supplemental instructions for FR Y-9C reporting.
July 12, 2019
WebPage
Regulatory News
|
|
News
EBA Publishes Report on Monitoring Implementation of LCR in EUEBA published its first report on the monitoring of the implementation of liquidity coverage ratio (LCR) in EU.
July 12, 2019
WebPage
Regulatory News
|
|
News
EIOPA Consults on Reporting and Disclosures Under Solvency II ReviewEIOPA launched a consultation package on supervisory reporting and public disclosure in the context of its work linked with the 2020 Solvency II review.
July 12, 2019
WebPage
Regulatory News
|
|
News
APRA Applies Additional Capital Requirements to Three Australian BanksAPRA is applying additional capital requirements to three major banks in Australia to reflect higher operational risk identified in their risk governance self-assessments.
July 11, 2019
WebPage
Regulatory News
|
|
News
IMF Report on 2019 Article IV Consultation on Euro Area PoliciesIMF published its staff report in context of the 2019 Article IV consultation on euro area policies with member countries.
July 11, 2019
WebPage
Regulatory News
|
|
News
FSB to Survey Practices on Cyber Incident Response and RecoveryFSB launched a survey on the industry practices on cyber incident response and recovery.
July 11, 2019
WebPage
Regulatory News
|
|
News
ECB Appoints New Members of Supervisory BoardThe Governing Council of ECB appointed Edouard Fernandez-Bollo, Kerstin af Jochnick, and Elizabeth McCaul as representatives to the Supervisory Board of ECB Banking Supervision, for a five-year non-renewable term.
July 11, 2019
WebPage
Regulatory News
|
