In its comment letter, EFRAG welcomes the Disclosure Initiative project set up by the IASB in 2013 that aims to review the disclosure requirements in existing Standards and to develop principles for disclosures in the notes.

More specifically, EFRAG supports the proposed narrow scope amendments to IAS 1 Presentation of Financial Statements to change some of the terminology in the Standard that may have been interpreted too strictly. In EFRAG’s view, this should enable entities to exercise more judgement in presenting and disclosing information and hence result in improving the relevance of disclosures in the financial statements.


EFRAG Comment Letter