EBA commented on the IASB's Disclosure Initiative

23 July 2014

The EBA has published its comment letter to the IASB on its Exposure Draft Disclosure Initiative (Proposed amendments to IAS 1, ED/2014/1).

The EBA welcomes the IASB initiative aimed at improving the existing presentation and disclosure requirements for financial statements. The EBA encourages the IASB to pursue this effort under the Disclosure Initiative project.

The EBA supports the IASB objective to provide narrow-focus clarifying amendments to IAS 1 to address some of the concerns expressed about existing presentation and disclosure requirements and to ensure entities are able to use judgement when preparing their financial statements. However, the EBA is of the view that certain proposals could be developed or clarified further in order to avoid any unintended misinterpretation and possible adverse effects on the understandability and comparability of financial information across institutions.

Comment letter

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