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Estimation uncertainty and the IASB’s proposed conceptual framework

Research output: Contribution to journalComment/debatepeer-review

  • Russell Craig
  • Wally Smieliauskas
  • Joel Amernic
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.
Original languageEnglish
Pages (from-to)112-114
Number of pages3
JournalAustralian Accounting Review
Issue number1
Early online date17 Dec 2016
Publication statusPublished - Apr 2017


  • 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 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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