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IASB Chairman's welcome address at the World Standard-setters meeting

  • IFRS - IASB Image
  • IFRS  - Speech Image

Sep 26, 2016

On September 26, 2016, in his opening remarks at the 2016 Word Standard-setters (WSS) meeting that is currently taking place in London, IASB Chairman Hans Hoogervorst spoke on IASB developments in the last 12 months, the Board's priorities for 2017 and beyond, and the cooperation between national standard-setters and the IASB.

Mr. Hoogervorst noted that the top priorities for 2017 and beyond would of course include the completion of the remaining major projects: Conceptual Framework, where completion of redeliberations is expected by the end of the year, and insurance contracts, where the issuance of a final standard is currently expected in March 2017.

He also noted the overriding priority of "better communication" the IASB will be focusing on going forward and explained that this does not mean that the IASB intends to cut back the information provided, nor to dramatically increase it. Rather, this focus aims at better presentation of information, better grouping of information together, and additional consideration of the form information is made available. As projects and developments that are expected to contribute to better communication Mr. Hoogervorst mentioned primary financial statements, the disclosure initiative, digital reporting, and non-financial reporting.

Please note that the IASB is not intending to publish a transcript of Mr Hoogervorst's speech on its website.

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