Better communication in Financial Reporting Le attività dello IASB per migliorare la comunicazione finanziaria

ABSTRACT:

In an attempt to enhance communication in financial reporting, the IASB has made Better Communication in Financial Reporting a central theme of its agenda for 2017 to 2021. The Disclosure Initiative is part of the Better Communication theme, and aims to address how the effectiveness of disclosures in IFRS financial statements can be improved: (a) the Materiality Project, the IASB published a practice statement that look at the general characteristics of materiality and provide guidance on making judgements about materiality when presenting and disclosing information in financial statements.(b) Principles of Disclosure, this project seeks to identify and better understand the issues in respect of disclosure and develop a set of new disclosure principles or clarify the existing principles. Its focus is on the general disclosure requirements in IAS 1 Presentation of Financial Statements and concepts being developed in the project to revise the existing Conceptual Framework. The IASB published a discussion paper in March 2017. (c) Standards-level review of disclosures, this project is to develop a drafting guide for the IASB to use when setting disclosure requirements in new and amended standards. Disclosure requirements in existing standards may be reconsidered to improve disclosure effectiveness. (d) Narrow-scope amendments to IAS 1, in 2014 the IASB made certain amendments to help entities apply judgement when preparing their financial statements. (e) Amendments to IAS 7 Statement of Cash Flows, the amendments, issued in January 2016, require disclosure of changes in liabilities arising from financing activities.

KEYWORDS: Communication, Disclosure, Materiality, Disclosure Initiative.