.png?sfvrsn=dd675fd5_2)
-(1).png?sfvrsn=db949de5_0)
6a6c7fe2013f4be3b0ecc0a5930da5c9.jpg?sfvrsn=ab5334c8_0)
/business-management-global-connection/istock-1167579720-c.jpg?sfvrsn=ff93f9a5_2)
/audit-assurance/istock-1169206203-c.jpg?sfvrsn=1d6f9b25_6)
/ethics-and-professionalism/istock-1141115724-c.jpg?sfvrsn=4e54d691_2)
/audit-assurance/istock-818732836-c-v3.jpg?sfvrsn=ae44e7b7_0)
.png?sfvrsn=905ee1bd_0)
/legal-secretarial/istock-866706340-c.jpg?sfvrsn=d7f57b8c_2)
The ED includes proposals to update IFRS 19 (a new reduced-disclosure framework for eligible entities) with reduced disclosure requirements for new or amended IFRSs that are issued between 28 February 2021 and 1 May 2024, namely IFRS 18, IAS 7, IAS 12 and IAS 21. We are supportive of this approach of updating IFRS 19 by the IASB.
We note the IASB’s decision of not including disclosure objectives in IFRS 19 is to avoid the perception that entities are required to provide same disclosures as when they have not applied IFRS 19. However, the absence of overall disclosure objectives may result in entities perceiving the disclosure requirements in IFRS 19 as a checklist. Hence, we recommend the IASB to include the guiding principles in paragraph BC 33 of IFRS 19 to explain the rationale behind the disclosure requirements, aiding in better understanding of their context.
Read more in our comment letter.