The Malaysian Accounting Standards Board (MASB) is organising a public forum on IASB Exposure Draft ED/2021/3 Disclosure Requirements in IFRS Standards – A Pilot Approach on 26 July 2021.
The Exposure Draft was issued by the International Accounting Standards Board (IASB) in response to stakeholders demand to address disclosure problem (not enough relevant information, too much irrelevant information and ineffective communication of the information provided —collectively referred to as the ‘disclosure problem’). The Exposure Draft sets out a new approach to developing the disclosure requirements in IFRS Standards. The application of disclosure requirements developed based on the new approach is expected to result in changes to the way stakeholders approach the preparation, review, audit and enforcement of disclosures in financial statements.
The virtual public forum is organised to provide an overview of the Exposure Draft and a platform for the participants to share their views and communicate concerns regarding the proposed amendments.
For more information on the Virtual Public Forum, please click here.