IASB developed an improved approach to help create accounting standards

8 March 2023

The International Accounting Standards Board (IASB) published Guidance for developing and drafting disclosure requirements in IFRS Accounting Standards (Guidance). The new approach aims to help the IASB create accounting standards that provide more useful information to investors. The Guidance sets out an approach that involves:

  • Engaging early with users to understand their information needs
  • Developing disclosure requirements alongside recognition and measurement requirements
  • Considering the digital reporting implications of new disclosure requirements
  • Using general and specific disclosure objectives that describe and explain users’ information needs, and
  • Supporting specific disclosure objectives by requiring entities to disclose items of information that would satisfy these objectives in most cases.

The IASB intends to use this Guidance when developing and drafting disclosure requirements in IFRS Accounting Standards.

You can read the Guidance here.

The project summary and feedback statement provide an overview of the project and the IASB’s response to feedback. You can read the summary here.

As part of the IASB’s Targeted Standards-level Review of Disclosures project here.

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