Do we need a roadmap for financial reporting?

ICAS, in collaboration with the International Federation of Accountants (IFAC), has published this joint paper as a response to the International Accounting Standards Board's (IASB) project to update its Conceptual Framework for Financial Reporting. 

The Conceptual Framework sets out the concepts and principles that guide the IASB in setting international financial reporting standards, and assist other in applying and understanding these standards, and as such, is of fundamental importance.   

'Do we need a roadmap for financial reporting? PDF [1,194 KB]' aims to align the theoretical considerations with the practical ones, and generate debate and discussion that can assist the IASB as it begins to consider revisions to the existing Conceptual Framework. 

The IASB issued a discussion paper on the Conceptual Framework in July 2013 and the comment period ended on 14 January 2014.  Read the ICAS response to the discussion paper - PDF [382 KB].


  • Corporate and financial reporting

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