The International Accounting
Standards Board (IASB) is taking a closer look at disclosures
The IASB has been working for the past year on what it calls
its ‘disclosure initiative’ — an attempt to address
a view among the financial reporting community that note disclosures
are excessive. It has unveiled proposed changes to IAS 1, Presentation
of Financial Statements, which are designed to remove obstacles to
people applying the materiality threshold more effectively. The aim
is to reduce unnecessary disclosures.
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