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Disclosure initiative — Principles of disclosure


This project is part of the IASB's overall disclosure initiative.

The IASB formally added a short-term initiative on disclosure to its work programme in December 2012 as part of its response to the Agenda consultation 2011, and undertook a constituent survey on disclosure and held a disclosure forum designed to bring together securities regulators, auditors, investors and preparers.

As a result of this consultation process, the IASB subsequently issued Feedback Statement Discussion Forum – Financial Reporting Disclosure on 28 May 2013, which included a number of initiatives.  One of these initiatives was an intention to consider a revised research project on financial statement presentation, conducted in parallel with the IASB's conceptual framework project, focused on broader challenges associated with disclosure effectiveness, which ultimately may lead to a replacement for IAS 1 Presentation of Financial Statements, IAS 7 Statement of Cash Flows and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors, in essence developing a disclosure framework for IFRS.

This project is expected to consider the following issues:

  • The principle of disclosure for notes to financial statements - including the objectives and boundaries of the notes, and principles for the organisation, placement, format and linkage of information
  • Information that should be included in a complete set of financial statements - focusing on the presentation of non-IFRS information and comparative information
  • Differential disclosures and proportionality
  • Cash flow reporting
  • Disclosure of interim financial information.

The initial phases of this project are expected to focus on the first two items above.  In some cases, individual discrete issues may be escalated and considered separately.


Current status of the project

This project has been concluded. The IASB published Disclosure Initiative — Principles of Disclosure project summary on 21 March 2019 and will not conduct any further work regarding this project.


Project milestones

Date Development Comments
20 December 2012 IASB staff survey on disclosure Survey close date 15 January 2013
28 January 2013 IASB Disclosure Forum
28 May 2013 Feedback Statement Discussion Forum – Financial Reporting Disclosure published Three key actions to be considered by the IASB:
  • Narrow scope amendments to IAS 1
  • A project to develop application guidance or educational material on materiality
  • Revised research project on financial statement presentation
30 March 2017 DP/2017/1 Disclosure Initiative — Principles of Disclosure published Comments requested by 2 October 2017
21 March 2019 Disclosure Initiative — Principles of Disclosure project summary published The IASB will not conduct any further work regarding this project.


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