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Response of the EAA FRSC to the EFRAG/ANC/FRC Discussion Paper: Towards a Disclosure Framework for the Notes

Författare och institution:
Jan Marton (Företagsekonomiska institutionen, Redovisning); Richard Barker (-); Elisabetta Barone (-); Jacqueline Birt (-); Ann Gaeremynck (-); Anne Mcgeachin (-); Rucsandra Moldovan (-)
Publicerad i:
Accounting in Europe, 10 ( 1 ) s. 1–26
Artikel, refereegranskad vetenskaplig
Sammanfattning (abstract):
We summarise the response of the EAA’s FRSC to Towards a Disclosure Framework for the Notes, a Discussion Paper (DP) issued jointly by EFRAG, ANC and FRC. While supportive of much of the DP, and in particular of the underlying aim to place disclosures on a sounder conceptual foundation, we identify two broad themes for further development. The first concerns the DP’s diagnosis of the problem, which is that the existing financial reporting is characterised by, on the one hand, disclosure overload and, on the other hand, an absence of a conceptual framework for organising and communicating disclosures. Our review of the literature suggests much greater support for the second of these two factors than for the first. The second broad theme is the purpose of the proposed DF, and the principles that are derived from this purpose. Here, we stress the need for the framework to better accommodate the context within which financial statement disclosures are used. In practice, this context is characterised by variation in information, incentives and enforcement, each of which has a considerable effect on the appropriate disclosure policy and practice in any given situation.
Ämne (baseras på Högskoleverkets indelning av forskningsämnen):
Ekonomi och näringsliv ->
Postens nummer:
Posten skapad:
2013-04-03 09:09

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