Consultation response

19 February 2016

FEE comments on IASB’s exposure draft ‘IFRS Practice Statement Application of Materiality to Financial statements

 

The International Accounting Standards Board (IASB)’s Disclosure Initiative project explores how disclosures in the International Financial Reporting Standards (IFRS) financial reporting can be improved. The initiative comes as a follow-up on the discussion forum on disclosure in financial reporting.

The Federation supports the IASB’s step-by-step approach for the Disclosure Initiative and its current project to provide guidance to management to apply the concept of materiality when preparing general purpose financial statements, in accordance with IFRS requirements. We also underpin the IASB’s decision to issue the document as a Practice Statement in a non-mandatory form as we believe it will avoid the potential risks of conflicting with national laws and/or legal requirements.

Related document:
Comment letter to IASB
Comment letter to EFRAG

Related files:
IASB’s Disclosure initiative
Comment letter on IASB Exposure Draft: Disclosure Initiative – Proposed Amendments to IAS 1

 

Related content

NewsEU reaches agreement on the CSRD: a historic moment for corporate reporting

30 June 2022

Consultation responseLetter to Commissioner McGuinness on European sustainability reporting standards

21 April 2022

Consultation responseIASB’s Exposure Draft on Subsidiaries without Public Accountability: Disclosures and EFRAG’s draft comment letter thereon

25 January 2022

Consultation responseIASB’s Exposure Draft on Disclosure Requirements: A Pilot Approach and EFRAG’s draft comment letter thereon

17 December 2021

Consultation responseIASB’s Exposure Draft: Management Commentary and EFRAG’s Draft Comment Letter

15 November 2021

NewsTime to deliver on high quality sustainability reporting

12 November 2021

Consultation responseEFRAG’s consultation paper – due process procedures for EU sustainability reporting standard-setting

14 September 2021

EventEFRAG Accountancy Europe BusinessEurope EFFAS IASB Joint Webinar

9 September 2021

Consultation responseIFRS Foundation’s Exposure Draft: Proposed targeted amendments to the IFRS Foundation constitution to accommodate an...

22 July 2021

Consultation responseIASB’s third agenda consultation, EFRAG’s draft comment letter and own proactive research agenda consultation

13 July 2021

PublicationA constructive two-way cooperation to sustainability reporting standard-setting

8 July 2021

NewsAccountancy Europe welcomes EU progress on sustainability reporting standards

21 April 2021

Consultation responseEFRAG’s Project Task Force on Non-financial reporting standards outreach document

25 January 2021

NewsReflections for the profession with respect to the disclosure and reporting of non-financial information

19 January 2021

Consultation responseEFRAG’s consultation document on the ad personam mandate on potential need for changes to the...

7 January 2021

Consultation responseIASB’s discussion paper on business combination – disclosures, goodwill & impairment and EFRAG’s draft comment...

30 November 2020

Consultation responseEFRAG’s consultation on the ad personam mandate on non-financial reporting standard setting

18 November 2020

Consultation responseEFRAG requests comments on its draft endorsement advice on IBOR Phase 2

4 September 2020

Consultation responseIASB’s Exposure Draft – General Presentation and Disclosures (Primary Financial Statements) & EFRAG’s draft comment...

28 July 2020

Consultation responseEFRAG’s draft endorsement advice on extension of the temporary exemption from applying IFRS 9

6 July 2020

Sign up for our newsletter

* indicates required
Would you like to subscribe to our newsletter?
On which topics would you like to receive news?