29. October 2015
The International Accounting Standards Board (IASB) published draft guidance to help company management determine whether information is material (IFRS Practice Statement ED/2015/8 Application of Materiality to Financial Statements). The guidance is part of the IASB’s wider initiative to improve disclosures. The concept of materiality acts as a filter through which management sifts information to ensure that financial statements include all the financial information that could influence users’ investment decisions… further information (snapshot)
This draft can be accessed the project website or on the ‘Comment on a proposal’ page on www.ifrs.org. The IASB requests comments on the proposals by 26 February 2016.