In the next few months, we can expect to hear more about the International Accounting Standards Board’s (IASB) disclosure initiative. It will be the first product of the new operating structure of the global standard-setter, with the discussion paper phase operating separately from the eventual standard-setting phase.

The IASB has published an exposure draft of proposed amendments to IAS 1, Presentation of Financial Statements. These might be seen as relatively minor wording changes, but they are intended to improve the quality of disclosure in the notes to the financial statements.