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New Conceptual Framework bulletin on complexity in financial statements

  • EFRAG Bulletin Image

10 Feb 2014

The European Financial Reporting Advisory Group (EFRAG) and the National Standard Setters of France, Germany, Italy and the United Kingdom have published the latest issue of their joint publication series on the IASB's Conceptual Framework project. This bulletin explores the complexity found in financial statements and what can be done to the conceptual framework to reduce some of these complexities.

The Conceptual Framework Bulletins are intended to promote discussion and to inform about European views on the IASB's Conceptual Framework project. They are also designed to elicit feedback on these views therefore come with specific questions at the end of each issue.

This bulletin discusses:

  • Unavoidable and avoidable issues of complexity in financial statements.
  • Possible causes for complexity.
  • Suggested guidance to the conceptual framework that may reduce the complexity.

The bulletin on complexity in financial statements can be accessed here.

Constituents wishing to comment on the views in the bulletins are invited to do so by 30 April 2014.

We have also created an archive of all bulletins available. We are grateful to EFRAG and the National Standard Setters for giving us permission to host them on IAS Plus.

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