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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.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.