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Deloitte comment letter on IASB ED/2014/1 "Disclosure Initiative: Proposed amendments to IAS 1"

Published on: Jul 21, 2014

Deloitte responded to the International Accounting Standards Board’s Exposure Draft ED/2014/1 Disclosure Initiative: Proposed amendments to IAS 1.

We support the Disclosure initiative project and agree that the proposed amendments related to areas in which the application of judgement can result in clearer communication to user of financial statements. However, we are concerned that there is insufficient guidance to assist in the application of that judgement, which may result in insignificant changes in practice. Also, we believe that a clear framework for the application of materiality to disclosures, covering both quantitative and qualitative considerations, is needed.


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