Conceptual Framework - Bulletin: Accountability and the objective of financial reporting

 

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 12 September 2013, the partnership published a Bulletin on Accountability and the Objective of Financial Reporting. This Bulletin discusses whether financial statements should provide information that is useful for an assessment of management's accountability (or stewardship) and whether this objective is adequately reflected in the IASB's Conceptual Framework.

Comments on this Bulletin were invited by 15 November 2013.