IASB welcomes FSB's Enhanced Disclosure Task Force Report

02 November 2012

On 29 October 2012 the FSB, of which the IASB is a plenary member, announced the publication of the Report of the Enhanced Disclosure Task Force (EDTF). The EDTF was formed at the initiative of the FSB in May 2012 to investigate ways in which to improve the quality of risk disclosures for banks.

The Report includes a number of recommendations aimed at enhancing the clarity, comparability and timeliness of information that banks provide to their investors. 

Hans Hoogervorst, Chairman of the IASB, commented: “We commend the inclusive nature of the EDTF’s approach, which brought together a wide range of constituents throughout the consultation process including preparers, investors, ratings agencies and auditors.  I would like to thank the EDTF for considering the views of the IASB during its consultation.

"This Report complements our own efforts to enhance transparency and the usefulness and comparability of financial statements. Furthermore, the IASB has recently started a revision of its Conceptual Framework and will consider the EDTF recommendations as it develops new financial reporting disclosure principles.” 

Press release

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