By Michael Kapoor
The International Accounting Standards Board said Wednesday that it would change the way it writes accounting standards to make it clearer when things were important enough for companies to disclose.
The IASB has been trying to improve the quality of disclosures since it received feedback that financial statements weren’t providing enough relevant information. It says it wants to change the way it drafts new standards to make it clearer when things are of material importance to companies and should be reported, for example by setting clearer disclosure objectives.
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