Estimation uncertainty and the IASB’s proposed conceptual framework
Research output: Contribution to journal › Comment/debate
In December 2015, CPA Australia responded formally to the International Accounting Standards Board (IASB) proposing certain actions and priorities in respect of the IASB’s agenda and work plan for 2016-2020. CPA Australia urged the IASB to give the completion of its Conceptual Framework (CF) program the highest priority and to ensure that any ensuing CF incorporated ‘robust concepts for financial reporting.’
This commentary reinforces and extends the CPA Australia response by highlighting four specific areas in which the IASB’s current proposals for a CF (outlined in Conceptual Framework for Financial Reporting: Exposure Draft, May 2015) are inadequate and need to encourage better ways of reporting uncertainty and risk. We urge the IASB to address these matters so as to assist in developing better and ‘more robust’ financial reporting.
This commentary reinforces and extends the CPA Australia response by highlighting four specific areas in which the IASB’s current proposals for a CF (outlined in Conceptual Framework for Financial Reporting: Exposure Draft, May 2015) are inadequate and need to encourage better ways of reporting uncertainty and risk. We urge the IASB to address these matters so as to assist in developing better and ‘more robust’ financial reporting.
| Original language | English |
|---|---|
| Pages (from-to) | 112-114 |
| Number of pages | 3 |
| Journal | Australian Accounting Review |
| Volume | 27 |
| Issue number | 1 |
| Early online date | 17 Dec 2016 |
| DOIs |
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| Publication status | Published - Apr 2017 |
Documents
- CRAIG_2017_cright_AAR_Estimation Uncertainty and the IASB’s Proposed Conceptual Framework
Rights statement: This is the peer reviewed version of the following article: "Estimation Uncertainty and the IASB’s Proposed Conceptual Framewor", (2017), Australian Accounting Review, which has been published in final form at http://onlinelibrary.wiley.com/doi/10.1111/auar.12147/full. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.
Accepted author manuscript (Post-print), 376 KB, PDF document
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