FRC comments on IASB announcement on disclosure in financial reporting
News types: Statements
Published: 18 December 2014
The FRC welcomes the IASB’s Disclosure Initiative and the publication of the amendments to IAS 1 and the draft amendments to IAS 7 as the first step in the development of a disclosure framework.
Improving disclosures in the annual report is a key aspect of the FRC’s Clear & Concise Initiative and the FRC’s influencing activities. The FRC’s 2012 thought piece ‘Thinking about disclosures in a broader context – a roadmap for a disclosure framework’ calls for action by all those involved in the financial reporting process to improve disclosures. Reports by the Financial Reporting Lab including those on net debt reconciliations and accounting policies provide further support towards the aim of promoting good communication in corporate reporting.
Read further information on the FRC’s Clear & Concise Initiative.
Improving disclosures in the annual report is a key aspect of the FRC’s Clear & Concise Initiative and the FRC’s influencing activities. The FRC’s 2012 thought piece ‘Thinking about disclosures in a broader context – a roadmap for a disclosure framework’ calls for action by all those involved in the financial reporting process to improve disclosures. Reports by the Financial Reporting Lab including those on net debt reconciliations and accounting policies provide further support towards the aim of promoting good communication in corporate reporting.
Read further information on the FRC’s Clear & Concise Initiative.