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Update on Disclosure Initiative

  • IFRS - IASB Image

May 20, 2015

On May 20, 2015, the International Accounting Standards Board released its update on the Disclosure Initiative. The Disclosure Initiative is a portfolio of projects designed to improve how information is presented and disclosed in financial reports.

This update highlights the recent and upcoming activities in the Disclosure Initiative including:

i)      Materiality:

  • Exposure Draft of the proposed Practice Statement; and
  • aligning the definition and additional paragraphs for IAS 1

ii)     Principles of Disclosure project

  • aggregation of information;
  • content of the notes;
  • drafting of disclosure requirements;
  • review of IAS 8;
  • disclosure of accounting policies; and
  • presentation on the face or in the notes.

iii)    Next steps.

Review the project update.

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