The European Financial Reporting Advisory Group and the Financial Reporting Council have published a bulletin, The Role of a Conceptual Framework.

The bulletin looks at issues which EFRAG says should be considered in the context of the ongoing International Accounting Standards Board project.

As such, the document considers the purpose of the Framework; the completeness of the Framework for setting requirements; the role of the Framework for preparers; the decision-making process derived from the Framework and the consequences of a revised Framework for existing International Financial Reporting Standards.

Comments must be sent to EFRAG by 30 September 2013.

To view the full document go here HERE