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Disclosure initiative — Targeted Standards-level review of disclosures

Date recorded:

Cover Paper (Agenda Paper 11)

The purpose of this meeting is for the Board to decide whether the staff can begin the balloting process on Exposure Draft (ED) Targeted Standards-level Review of Disclosures—Amendments to IAS 19 and IFRS 13.

Due process steps and permission to begin the balloting process (Agenda Paper 11A)

This paper summarises the due process steps taken in the project and asks the Board whether the staff can begin the balloting process.  It also summarises the staff’s proposed structure for the upcoming ED and their analysis and recommendation regarding the length of the comment period.

Staff analysis

The staff’s analysis highlights that, whilst the minimum comment period is 120 days, the Board should opt for a longer period in this instance as the project deals with a new approach to developing and drafting disclosure sections of IFRS Standards, which is likely to have significant consequences, and a longer period would allow staff more time to perform additional consultation activities. The staff therefore recommend that the Board allow a comment period of 180 days for the ED.

The staff’s analysis also demonstrates that the Board has completed all the required due process steps and some of the optional steps necessary to issue an ED. The staff’s tentative plan for the ED package is for it to contain the following sections:

  • Amendments
  • Illustrative Examples
  • Basis for Conclusions
  • Project Summary

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