General presentation and disclosures: ICAEW s point of view 22 December 2020: ICAEW has responded to the IASB’s Exposure Draft on General Presentation and Disclosures (Primary Financial Statements). What is our point of view?
The International Accounting Standards Board (IASB) has proposed improvements to the way information is communicated in the financial statements, with a focus on financial performance.
The proposals are a response to investor demand and, if adopted, would require more comparable information and more transparency. Michael Stewart, Senior Expert of Financial Reporting at Huawei, chaired ICAEW’s Financial Reporting Faculty Committee’s working party on this area and contributed to the resultant response.