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Deloitte comment letter on IASB ED/2014/6, "Disclosure Initiative (proposed amendments to IAS 7)"

Published on: Apr 01, 2015

Deloitte's IFRS Global Office has responded to the IASB's Exposure Draft ED/2014/6, Disclosure Initiative (proposed amendments to IAS 7). The IASB's proposed amendments aim at clarifying IAS 7 to improve information provided to users of financial statements about an entity's financing activities and liquidity.

In its comment letter, Deloitte's IFRS Global Office supports the Board's Disclosure Initiative, but believes that it is premature to make additional disclosure requirements of the sort proposed in the ED ahead of discussions on the Principles of Disclosure element of that project. Specifically, we are concerned that a conceptual basis for a "debt" or "net debt" reconciliation has not been established at this time and that, as drafted, the proposals would provide only an incomplete view of movements in items used to fund an entity's activities.


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