IASB member discusses the importance of financial reporting when investing

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Feb 08, 2018

On February 8, 2018, the International Accounting Standards Board (IASB) posted the response given by IASB member Nick Anderson, at the ICAEW’s Information for Better Markets event on December 18, 2017, to Professor Baruch Lev's speech, "Financial reporting for Investors—do the financial statements give them what they need?".

Mr. Anderson’s response provided his views related to the important role analysis reports play when making investment decisions as well as arguments to Professor Lev’s comments regarding the (1) growth of intangibles, (2) impact of financial reporting, and (3) role of standard-setters.

In addition, he commented on two proposed accounting changes Professor Lev believed will "restore the income statement matching." These proposals were to capitalize selected intangibles and the treatment of "one-off" costs.

Review Mr. Anderson’s response on the IASB’s website.

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