We comment on the IASB's proposed amendments to IAS 1 and IAS 8

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02 Dec 2017

We have responded to the IASB's exposure draft ED/2017/6 'Definition of Material (Proposed amendments to IAS 1 and IAS 8)' that was published in September 2017.

While we agree that there is merit to defining 'material' so it is consistent in the revised Conceptual Framework and the standards it shapes, we urge the IASB to consider five adjustments before the exposure draft is finalised. We feel that these items can be easily remedied, without undermining the objective of the proposal.

Please download the full comment letter here.

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