Conceptual Framework - Bulletin: The Role of a Conceptual Framework

 

Project History

 

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

On 8 July 2013, the partnership published a bulletin, The Role of a Conceptual Framework. This Bulletin considers:

• the purpose of the Framework for the IASB;
• the completeness of the Framework for setting requirements;
• the role of the Framework for preparers;
• the decision-making process derived from the Framework;
• and the consequences of a revised Framework for existing IFRS.

Comments on this bulletin were invited by 30 September 2013. The comments received were considered in developing views so as to best express European views in the IASB consultation process.