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Disclosure initiative — Targeted Standards-level Review of Disclosures – International Accounting Standards Board

Date recorded:

At its meeting on January 29, 2020, the IASB continued its discussion on information that could meet the specific disclosure objective on expected future cash flows for defined benefit plans that the Board had tentatively agreed at its July 2019 meeting and made a number of tentative decisions in this regard. The Board also considered how its tentative decisions about disclosures in IAS 19 compare to the disclosure requirements in the Standard and whether those tentative decisions should be refined. As a result, the Board tentatively decided:

  1. on a number of changes to the required disclosures in respect of defined benefit plans;
  2. to leave unchanged its tentative decisions on defined contribution plans, short-term employee benefits, other long-term employee benefits and termination benefits; and
  3. re multi-employer plans, to identify information an entity may but is not required to provide to meet the specific disclosure objective on the nature and risks of the plans.

At a future meeting, the Board will consider (a) whether to amend IFRS 13 to include a separate disclosure objective and information that could be used to meet the objective on the effect of fair value measurement on the statement of financial performance; and (b) will also discuss the lessons learned during the testing phase of the targeted Standards-level review of disclosures and any resulting potential amendments to the Board’s draft guidance for developing and drafting disclosure objectives and requirements.

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

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