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The Quoted Companies Alliance Financial Reporting Committee examined this consultation from the IFRS Foundations strategy review, which seeks views on the purpose of Financial Reporting Standards.

The committee commented on:

  • how vital it is for the IASB focuses on the impact of the use of its standards on theoverall quality of financial reporting;
  • how the IFRS should seek to ensure that financial statements be true and fair view;
  • how the IASB should focus on proportionality for standards; and
  • how there should be effective representation from smallerlisted/quoted companies on the IASB.

Click here to read the full response (pdf)

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