Reporting Performance Measures – Enhancing the Relevance of Financial Reporting

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Jun 01, 2018

On June 1, 2018, the Accounting Standards Board (AcSB) announced that it will issue a Draft Framework for Reporting Performance Measures to enhance the relevance of financial information for all entities. The Framework will be issued June 14, 2018.

This Framework is the first step in responding to the needs of stakeholders – such as investors, contributors, lenders and other resource providers – about the performance measures reported by entities.

The AcSB wants to discuss and improve financial and non-financial performance measures reported outside of financial statements.

The concerns they want to address include:

  • The quality of performance measures being reported.
  • The lack of consistency, transparency and comparability of performance measures reported period to period.
  • The “expectation gap” about the governance practices of entities over how performance are developed and reported, and whether those measures are subject to assurance.
  • The limited guidance available on how to develop and report performance measures not usually subject to assurance.

Review the press release and reference materials on the AcSB's website.

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