Disclosure overload – IASB public forum
IASB to host a public forum to consider disclosure overload (can I have an amen to that). Scheduled for 28 January 2013 for a venue in London. More details and bookings on http://www.ifrs.org/Alerts/PressRelease/Pages/IASB-hosts-public-forum-to-discuss-disclosure-overload.aspx
Not an easy task being a standard setter, but there is a growing feeling that accounting disclosures are getting out of hand.
Commenting on the Forum, Hans Hoogervorst, Chairman of the IASB said:
“It has become increasingly clear that we are suffering from disclosure overload. However, there are many reasons why this is the case. Standard-setters are not blameless, but neither are preparers, auditors or regulators. So, the idea is to get everybody in a room and see what we can do to address this topic.
However, no one should expect quick wins. One investor’s disclosure clutter is another investor’s golden nugget of information. Taking information away is never easy.
We will proceed with caution, and build upon the impressive work that has already been done by others in this area.”
I am so glad I am not going to be in charge of that meeting, good luck IASB.