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IFRS® Accounting Standards

Disclosure initiative—Principles of Disclosure

Summary

The Accounting Standards Board (AcSB) is participating in the International Accounting Standards Board’s (IASB) project to identify disclosure issues and address them by developing new, or clarifying existing, principles of disclosure in IFRS Standards.

Staff Contact(s)

Andrew White, CPA, CA Associate Director, Accounting Standards Board

Project Status

  • Information gathering

    Completed prior to January 2015

  • Approving project

    The IASB approved the project in January 2015

    The IASB split original project into two parts and issued Plan Amendment, Curtailment or Settlement (Amendments to IAS 19) in February 2018

    The AcSB endorsed and incorporated these amendments into Part I of the CPA Canada Handbook – Accounting in April 2018

  • Engaging Communities

    IASB issued an Exposure Draft, June 2015

    AcSB issued an Exposure Draft, July 2015

    AcSB consulted with several stakeholders with expertise in employee future benefits (including stakeholders representing audit firms and benefit consulting firms) in August 2015 and August 2017

  • Deliberating feedback

    The IASB reviewed the evidence and concluded that improving the way disclosure requirements are developed and drafted in IFRS Standards is the most effective way to help solve the disclosure problem. Consequently, the IASB has decided to prioritize its Targeted Standards-level Review of Disclosures project.

  • Final pronouncement

    The IASB published a project summary in March 2019.

Read the IASB’s Project Report

News


April 4, 2017

News

IASB Discussion Paper – Disclosure Initiative — Principles of Disclosure

April 4, 2017. The IASB has issued a Discussion Paper that suggests principles to make disclosures in financial statements more effective.

Canadian stakeholders are encouraged to provide feedback directly to the IASB by October 2, 2017.

Disclaimer

This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal voting process.