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Update from IASB

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On 8 March 2023, the International Accounting Standards Board (IASB) concluded its project, Disclosure Initiative – Targeted Standards-level Review of Disclosures on improving the approach for developing and drafting disclosure requirements in IFRS Accounting Standards. The improved approach would assist the IASB develop accounting standards which would enable companies in making better judgements regarding which information is material and should be disclosed, thereby providing more useful information to the investors.

The improved approach involves:

  • Engaging early with investors to understand their information needs,
  • Developing disclosure requirements alongside recognition and measurement requirements,
  • Considering the digital reporting implications of new disclosure requirements,
  • Using general and specific objectives that describe and explain investors’ information needs, and
  • Supporting specific objectives by requiring companies to disclose items of information that would satisfy the objectives in most cases.

To access the text of the project, please click here

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