CESR published a to EFRAG on IASB’s exposure draft of proposed improvements to IFRS 2007. CESR-Fin is very concerned with the amendment to IAS 1 proposed by the IASB regarding the statement of compliance with IFRSs. CESR believes that the current disclosure requirements in IAS 1 are sufficient for users to understand the financial statements, even if the carve out has been applied.
Regarding the new paragraph 16A proposed in the exposure draft of IAS 1, it is not clear enough to what extent an issuer could be required to produce reconciliation to IFRS as adopted by the IASB, when describing each difference to IFRS as adopted by IASB (16A.a) and how it’s reported financial position and performance is affected (16A.b).
CESR letter
© CESR - Committee of European Securities Regulators
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