Conceptual Framework - Bulletin: Uncertainty

In 2012, EFRAG and the French Autorit des Normes Comptables (ANC), the Accounting Standards Committee of Germany (ASCG), the Italian Organismo Italiano di Contabilit (OIC) and the UK Financial Reporting Council (FRC) agreed to work in partnership to promote discussion, and to ensure that European views are influential in the debate on the IFRS Conceptual Framework.

On 11 April 2013, the partnership published a bulletin on Uncertainty. This bulletin considered whether uncertainty is best dealt with as a matter of measurement or should it continue to play a role in either (or both) the definition of an element and the recognition criteria.

Comments on this bulletin were invited by 5 July 2013. The comments received were considered in developing views so as to best express European views in the IASB consultation process.