FYI Article – Influence the Future of Financial Reporting: Revising the Conceptual Framework
The best way Canadians can influence the future direction of financial reporting is to provide input on the International Accounting Standards Board’s (IASB) Exposure Drafts, “Conceptual Framework for Financial Reporting,” and its companion Exposure Draft, “Updating References to the Conceptual Framework.”
The IASB’s Conceptual Framework project aims to provide the IASB with a more complete, updated and improved set of concepts to use when it develops or revises IFRSs. Decisions in this project will shape the decisions that the IASB ultimately makes in all future projects to develop or revise IFRSs. The companion Exposure Draft aims to provide transition provisions to the revised Conceptual Framework.
Provide Your Views
Comments on the IASB’s Exposure Drafts are requested by October 26, 2015.
The continued participation of Canadians in developing a high-quality Conceptual Framework is important to ensure that Canadian views and experience are considered when the IASB makes the decisions that will affect all new and revised IFRSs that follow.
Participate in a Roundtable
Participate in the AcSB’s roundtable in person in Toronto or via phone on September 8, 2015. Take advantage of this opportunity to provide your views directly to the AcSB and its staff.
- AcSB project page, which includes the AcSB’s corresponding Exposure Drafts
- IASB project page, which includes a snapshot and an IASB web presentation
Kathryn Ingram, CPA, CA
Principal, Accounting Standards Board
Phone: +1 (416) 204-3475