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Disclosure initiative — Accounting Policies – International Accounting Standards Board

Date recorded:

At its meeting on October 24, 2018, the International Accounting Standards Board (the Board) discussed: (i) progress on the Targeted Standards-level Review of Disclosures; and (ii) guidance and examples intended to help entities apply the four-step materiality process in IFRS Practice Statement 2—Making Materiality Judgements (Materiality Practice Statement) when determining which accounting policies to disclose.

The Board received an oral update from the staff about progress on the Targeted Standards-level Review of Disclosures. The Board was not asked to make any decisions.

The Board tentatively decided to clarify that not all accounting policies relating to material transactions, other events or conditions are themselves material. And they tentatively decided to continue developing guidance and examples to help entities decide whether the accounting policies they apply to material transactions, other events or conditions are themselves material.

The Board asked the staff to perform some further analysis and expects to continue its discussion about accounting policy disclosures at a future meeting.

Review the IASB Update and podcast on the Board's Web site.

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