IASB publishes a Discussion Paper on the Conceptual Framework
The International Accounting Standards Board (IASB) today published for public comment a Discussion Paper exploring possible changes to the IASB’s Conceptual Framework for Financial Reporting. The Discussion Paper is the first step towards issuing a revised Conceptual Framework.
The Conceptual Framework sets out the concepts that underlie the preparation and presentation of financial statements. It identifies principles for the IASB to use when it develops and revises its IFRS.