IASB issues 'Investor Perspectives' on prudence

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11 Jun 2015

The International Accounting Standards Board (IASB) has released a new edition in its 'Investor Perspectives' series. In this edition, IASB member Steve Cooper discusses the concept of prudence.

On 28 May 2015, the IASB issued an exposure draft on the conceptual framework, which reintroduced an explicit reference to prudence and states that the exercise of prudence supports neutrality. Mr Cooper discussed how issues with the pre-2010 definition of prudence was created uncertainty in practice and noted that the proposed definition provides more clarity into the approach intended by the IASB.

For more in­for­ma­tion, see the June 2015 edition of the Investor Per­spec­tives newslet­ter on the IASB’s website.

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