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IAS 1 — Disclosure initiative

Date recorded:

The project manager provided a background of the narrow-focus project.

The question was raised whether a ‘default’ order of notes should be prescribed or whether entities should have flexibility in how to order the notes to their financial statements.

One board member expressed that he favours the proposal to allow more flexibility because the environment is going to change and it will be more suitable to have a flexible approach.

One Board member expressed that he supports the wording proposed by the staff.

The IASB tentatively decided to propose an amendment to allow more flexibility regarding the order of notes in the forthcoming exposure draft.

Correction list for hyphenation

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