ifacIn the paper, IFAC and ICAS raise some fundamental questions and issues that should be considered by the IASB, including:

  • Who are financial statements for?
  • What is the purpose of financial statements?
  • What role should the Conceptual Framework serve?
  • What items should be included in assets and liabilities?
  • What does ‘financial performance’ mean?

More information.

IFAC/ICAS Paper.