IASB’s targeted standards-level review of disclosures project yields improved approach to developing IFRS Accounting Standards disclosures

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08 Mar, 2023

The IASB has concluded its project which aimed at improving its approach to developing disclosure requirements in IFRS Accounting Standards, with a focus on helping companies provide more useful information to investors.

The IASB has published guidance summarising the improved approach, which involves:

  • Early engagement with investors.
  • Developing disclosure requirements alongside recognition and measurement requirements.
  • Considering digital reporting implications.
  • Using objectives to explain investors’ information needs.
  • Supporting specific objectives through disclosure requirements.

The IASB intends to use this approach when developing disclosure requirements in future.

In addition, the IASB has published a project summary and feedback statement on the project, which provides an overview of the project, summarises feedback on the exposure draft ED/2021/3 Disclosure Requirements in IFRS Standards — A Pilot Approach (Proposed amendments to IFRS 13 and IAS 19), and sets out the IASB’s response to that feedback. The publication of this document officially concludes the the IASB's targeted standards-level review of disclosures project.

For more information, see the press release on the IFRS Foundation’s website.

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