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ESMA comment letter on the IASB’s Exposure Draft on proposed amendments to IAS 1 and IAS 8 regarding the definition of materiality

  • ESMA (European Securities and Markets Authority) (dark gray) Image

19 Dec 2017

The European Securities and Markets Authority (ESMA) has issued its comment letter on the IASB’s Exposure Draft, ED 2017/6 Definition of material (proposed amendments to IAS 1 and IAS 8).

ESMA is supportive of the proposed amendments to the definition of material information and the accompanying explanations. However it believes that the IASB should consider providing additional clarifications and illustrative examples on how the notion of ‘obscuring’ material information should be understood in practice.

The full comment letter is available on the ESMA website.

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