The comment period for an exposure draft related to disclosure requirements has been extended by almost three months, the International Accounting Standards Board (IASB) said Wednesday.
In March, the IASB announced a new approach to developing disclosure requirements in IFRS and new disclosure requirements for IFRS 13, Fair Value Measurement, and IAS 19, Employee Benefits.
The proposals in the exposure draft would enable companies to enhance their judgement and reduce “boilerplate” information given to investors, the IASB said.
In a statement, the IASB said it was extending the comment period deadline on the exposure draft from 21 October 2021 to 12 January 2022. The extension was due to “the unique nature of, and significant new thinking in, the proposals. In particular, it will allow more time for preparers to engage in fieldwork and provide feedback on the practical application of the proposals,” the statement said.
— Neil Amato (Neil.Amato@aicpa-cima.com) is an FM magazine senior editor.