Mr Barckow noted that the IFRS Foundation is fully aware of the current backdrop to companies’ operations and the uncertainties that seem to increase everywhere. And he stated that when conditions change, the need for information you can rely on increases. Useful and trustworthy information enables informed decisions. He gave three examples how the IASB is trying to serve the public interest by helping companies and investors by provide or receive better information for better decisions.

• Moving urgently when required. The example Mr Barckow gave in this context were the recent amendments to the requirements for accounting for taxes in the financial statements. The IASB amended IAS 12 in about half a year to provide temporary reliefs for companies ― making it easier for them to account for deferred taxes stemming from new OECD requirements. At the same time, the IASB developed some new disclosure requirements so investors can understand how the tax reform will affect companies. 
• Prioritising projects. The IASB also acts by focusing its resources on the projects that are most important, based on stakeholder feedback from the IASB's agenda consultation that called for focusing on issues that really matter while being mindful of the resources of all those affected new requirements as well as the IASB's own. The IASB also aims at removing uncertainty by making smaller but important improvements to its requirements. The example Mr Barckow gave were the new disclosure requirements for supply chain financing arrangements.
• Helping companies tell their story. Mr Barckow pointed out that as the IASB's standards are required in more than 140 jurisdictions, global investors can track and compare financial statements. He noted that investors appreciate transparency even when companies tell them the situation as it is ― or exactly because of that. Here, Mr Barckow pointed to the IASB's primary financial statements project where the forthcoming standard will require companies to report operating profit, but will also allow companies to report some of their own performance measures in the financial statements.

Mr Barckow concluded his remarks by stating:

I think we can all agree that better information enables better decisions. We are collectively and collaboratively developing accounting solutions that improve the ways companies and investors exchange information ― improve the way they communicate. Good communication is especially important when dealing with challenges.

Please click to access the full transcript of his speech on the IFRS Foundation website.