Skip to main content

IFRS® Accounting Standards

AcSB Exposure Draft – Disclosure Requirements in IFRS Standards — A Pilot Approach

Summary

The Accounting Standards Board (AcSB) proposes, subject to comments received following exposure, to incorporate amendments to IFRS 13 Fair Value Measurement and IAS 19 Employee Benefits into Part I of the CPA Canada Handbook – Accounting.

Staff Contact(s)

Katharine Christopoulos, CPA, CA Director, Accounting Standards Board

Phone number  +1 416 204 3270
Email address  [email protected]

Thank you for your interest in the AcSB Exposure Draft – Disclosure Requirements in IFRS Standards—A Pilot Approach.

Read the Exposure Draft and stay up to date with this project.

AcSB Exposure Draft – Disclosure Requirements in IFRS Standards – A Pilot Approach

Support Materials

Disclosure Initiative – Targeted Standards-level Review of Disclosures

Background

The International Accounting Standards Board (IASB) recently issued the Exposure Draft, “Disclosure Requirements in IFRS Standards — A Pilot Approach (Proposed amendments to IFRS 13 and IAS 19) .” 

The IASB’s Exposure Draft proposes a new approach to developing disclosure requirements in IFRS Standards as well as new disclosure requirements for IFRS 13 and IAS 19. These proposals emphasize applying judgment and reducing “boilerplate” information in an effort to give investors more useful information. Disclosure requirements developed using this approach are intended to better enable preparers, auditors, and others to make more effective materiality judgments and, thus, provide disclosures that are more useful to investors. The new approach is written as draft guidance for use by the IASB when developing disclosure requirements in individual standards. In applying this guidance, the IASB aims to:

  • enhance investor engagement to ensure the IASB has an in-depth understanding of investors’ information needs and clearly explains those needs in the standards;
  • give greater prominence to the objective of disclosure requirements, requiring companies to apply judgment and provide information to meet the described investor needs; and
  • minimize requirements to disclose particular items of information to help companies focus on disclosing material information only.

The IASB tested this new approach using IFRS 13 and IAS 19, and it proposes amendments to the disclosure requirements in those standards in its Exposure Draft.

The IASB’s Exposure Draft includes a Basis for Conclusions that is not part of this Exposure Draft. This material may provide useful information to stakeholders.