26. March 2015

ASCG comments on IASB ED/2014/6

The Accounting Standards Committee of Germany (IFRS Committee) has finalised its comment letter on the IASB ED/2014/6 Disclosure Initiative – Proposed amendments to IAS 7 (comment letter to IASB/ to EFRAG).

The IFRS Committee highlights further needs of clarification regarding the IASB proposals. Especially, the proposals raise questions about their interaction with already existing, similar disclosure requirements for IFRS financial statements. Within this context the IFRS Committee emphasizes the need of a more systematic approach for developing new notes disclosure. Furthermore, there are concerns that the IASB proposals do not meet the original request from users regarding the disclosure of a net debt reconciliation. In conclusion of these issues, the IFRS Committee disagrees with the IASB proposals overall.