{"id":1385,"date":"2017-12-27T14:20:26","date_gmt":"2017-12-27T13:20:26","guid":{"rendered":"https:\/\/frjournal.eu\/journal\/?p=1385"},"modified":"2017-12-27T14:20:26","modified_gmt":"2017-12-27T13:20:26","slug":"dialogue-with-standard-setters-removing-reliability-from-the-iasifrs-framework-the-efrags-viewpoint","status":"publish","type":"post","link":"https:\/\/frjournal.eu\/journal\/2017\/12\/27\/dialogue-with-standard-setters-removing-reliability-from-the-iasifrs-framework-the-efrags-viewpoint\/","title":{"rendered":"Dialogue with standard setters. Removing \u2018reliability\u2019 from the IAS\/IFRS framework. The EFRAG\u2019s viewpoint"},"content":{"rendered":"<p>Sannino Giuseppe\/\u00a0<a href=\"http:\/\/www.sidrea.it\/category\/riviste\/financial-reporting\/\">Financial Reporting<\/a>,\u00a0<a href=\"http:\/\/www.sidrea.it\/category\/riviste\/\">Riviste<\/a>\u00a0\/Fascicolo: 1-2014<\/p>\n<hr \/>\n<p>The IAS\/IFRS conceptual framework (CF) describes the basic concepts underlying the preparation and presentation of financial reporting. Its main purpose is to assist the International Accounting Standards Board (IASB) in developing future IFRS and preparers in resolving those accounting issues directly not addressed in the IAS\/IFRS, nor in their interpretations.\u00a0The IAS\/IFRS conceptual framework takes the form of a single document issued in 1989 by the IASB and recently (in 2010), substituted with another taking the many changes occurred in both the economic environment and in the management of firms into account.\u00a0This new document (the 2010 framework) is the result of a complex project that the IASB and US FASB (Financial Accounting Standards Board) began jointly in October 2004 in order to share a common conceptual framework. The project is a part of the Norwalk Agreement signed by these two standard setters in 2002. In it both acknowledged their commitment to the develop highquality and compatible accounting standards. The 2010 framework appears nevertheless incomplete. It is divided into four chapters, concerning the following topics:\u00a0Chapter 1: The objective of general purpose of financial reporting;\u00a0Chapter 2: The reporting entity;\u00a0Chapter 3: Qualitative characteristics of useful financial information;\u00a0Chapter 4: The Framework (1989): the remaining text.\u00a0Only the first and the third of these chapters, were completed while the second and the fourth are still in progress. [\u2026]\n<hr \/>\n<div class=\"fusion-button-wrapper fusion-aligncenter\"><style type=\"text\/css\" scoped=\"scoped\">.fusion-button.button-1 .fusion-button-text, .fusion-button.button-1 i {color:#ffffff;}.fusion-button.button-1 {border-width:0px;border-color:#ffffff;}.fusion-button.button-1 .fusion-button-icon-divider{border-color:#ffffff;}.fusion-button.button-1:hover .fusion-button-text, .fusion-button.button-1:hover i,.fusion-button.button-1:focus .fusion-button-text, .fusion-button.button-1:focus i,.fusion-button.button-1:active .fusion-button-text, .fusion-button.button-1:active{color:#ffffff;}.fusion-button.button-1:hover, .fusion-button.button-1:focus, .fusion-button.button-1:active{border-width:0px;border-color:#ffffff;}.fusion-button.button-1:hover .fusion-button-icon-divider, .fusion-button.button-1:hover .fusion-button-icon-divider, .fusion-button.button-1:active .fusion-button-icon-divider{border-color:#ffffff;}.fusion-button.button-1{width:auto;}<\/style><a class=\"fusion-button button-flat fusion-button-round button-large button-default button-1\" target=\"_blank\" rel=\"noopener noreferrer\"><span class=\"fusion-button-text\">Read Article<\/span><\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Sannino Giuseppe\/\u00a0Financial Reporting,\u00a0Riviste\u00a0\/Fascicolo: 1-2014 The IAS\/IFRS conceptual framework (CF) describes the basic concepts underlying the preparation and presentation of financial reporting. Its main purpose is to assist the International Accounting Standards Board (IASB) in developing future IFRS and preparers in resolving those accounting issues directly not addressed in the IAS\/IFRS, nor in their interpretations.\u00a0The IAS\/IFRS [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"quote","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[30,1],"tags":[],"class_list":["post-1385","post","type-post","status-publish","format-quote","hentry","category-browse-the-journal","category-financial-reporting","post_format-post-format-quote"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dialogue with standard setters. 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