Disclosure initiative — Accounting Policies – International Accounting Standards Board

Date recorded:

At its meeting on March 12-14, 2019, the Board met to continue its deliberations about accounting policy disclosures. The Board tentatively decided to use two examples to demonstrate how an entity should apply the four-step materiality process set out in the materiality practice statement to accounting policy disclosures. The Board also tentatively decided that the examples should:

  1. highlight the need to focus on information useful to users of financial statements; and
  2. demonstrate how the application of the four-step materiality process can respond to:
    1. the use of boilerplate or generic information in accounting-policy disclosures material to the financial statements; and
    2. accounting-policy disclosures containing only information that repeats requirements of IFRS Standards. The Board will discuss due process steps at a future meeting.

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

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