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FYI Article – Non-authoritative Guidance: To Follow or Not to Follow?

  • IFRS - AcSB Image

Jul 24, 2015

On July 23, 2015, the Accounting Standards Board (AcSB) released an article that highlights some of the commonly asked questions around non-authoritative guidance and provides the IFRS Discussion Group’s perspectives on this topic.

Guidance that is identified as an integral part of IFRSs is authoritative and, therefore, must be applied. But what about other material such as basis for conclusions documents, illustrative examples or even IFRS Interpretations Committee agenda decisions? Such material is referred to as non-authoritative guidance, and it is much less clear whether it needs to be applied.

Read the FYI Article on the AcSB's Web site.

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