Conceptual Framework - Bulletin: Reliability of financial information
- Rasmus Sommer
Project HistoryIn 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 are influential in the debate on the IFRS Conceptual Framework.
On 11 April 2013, the partnership published a bulletin, Reliability of Financial Information. The bulletin discussed whether the replacement of reliability with faithful representation and the loss of the idea of a trade-off between relevance and reliability was appropriate.
Comments on the 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.