Site Search:

Contact the Press Office

Peter Timberlake, Head of Communications
+44 (0)20 7492 2397
Rita Carolan, Communications Manager
+44 (0)20 7492 2307
Alana Sinnen, Communications Manager
+44 (0)20 7492 2395

EFRAG and the National Standard Setters of France, Germany, Italy and the UK publish two Bulletins in relation to the review of the IFRS Conceptual Framework

12 Sep 2013

EFRAG and the National Standard Setters of France, Germany, Italy and the United Kingdom have published two further Bulletins to promote discussion, and to help form European views that are influential in the debate on the IFRS Conceptual Framework.

The two new Bulletins are:

Accountability and the objective of financial reporting. This Bulletin discusses whether financial statements should provide information that is useful for an assessment of management’s accountability (or stewardship) and whether this objective is adequately reflected in the IASB’s Conceptual Framework.

The asset/liability approach. This Bulletin considers whether the approach adopted in the Conceptual Framework of defining equity, income and expenses on the basis of the definitions of assets and liabilities is satisfactory, and in particular whether it: implies that the presentation of information on income will be subordinated to information on assets and liabilities; provides an appropriate basis for reporting performance; requires that all assets and liabilities are recognised; and/or implies that all assets and liabilities are to be stated at fair value.

Comments are invited by 15 November 2013. The comments received will be considered in developing views so as to best express European views in the IASB consultation process.  

Search all news
Quick Links
Subscribe to our newsletter and alerts
The Financial Reporting Council Limited is a company limited by guarantee. Registered in England number 2486368. Registered Office: 8th Floor, 125 London Wall, London EC2Y 5AS