IASB to explore how technological disruption may influence the outcome of its projects

  • IASB (International Accounting Standards Board) (blue) Image

22 May 2018

As it has become clear that massive changes in relation to technology will have an impact upon accounting and corporate reporting, the IASB is looking for a 'Technology Principal' who will be responsible for "a group of projects related to the effect of technology on financial reporting and standard-setting".

There have been repeated calls in the past for the IASB to consider how technological developments can be used to overcome problems or find solutions for issues with projects on its agenda. The principles of disclosure project and the perceived "disclosure overload" immediately spring to mind, as does the primary financial statements project. The more general field of wider corporate reporting, which the IASB is aiming to address through updating the Management Commentary Practice Statement, would also offer itself.

It seems that the IASB is set to actively explore opportunities arising from technological disruption as the job description includes research into the possible effects of new and emerging technology on the delivery and consumption of financial information including likely impact on standard-setting as well as the education of the Board on relevant new technologies. Threats the IASB might be facing from changes in technology are also included among the responsibilities.

The full job description is available on the IASB website.

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