The following publications, available via the menu to the
left, represent a selection of reports issued by ICAS on financial reporting
matters.
- A
Professional Judgement Framework for Financial Reporting
Published by ICAS in August 2012, this document describes
the benefits of a framework for making judgements and provides guidance for
preparers, auditors and regulators, and recommendations for standard setters.
- Making
Corporate Reports Relevant
The ICAS publication ‘Making Corporate Reports Relevant’
seeks to draw to a conclusion its earlier work ‘Making Corporate Reports
Readable’ which was issued in 2010 for consultation.
- Losing
the Excess Baggage
Published in July 2011, this document reports on the
ICAS-NZICA project for the IASB to review IFRS disclosure requirements. It recommends the removal of much of the
detailed information in financial statements, and enhancing the use of
materiality in financial reporting disclosures.
- Making
Corporate Reports Readable
‘Making Corporate Reports Readable’
recommends the preparation of a Short Form Report which would be used as the
centrepiece of a company’s results announcement replacing the company’s annual
review and summary financial statements.
It would tell management’s story of what is important – by eliminating
boilerplate narrative and providing decision-useful information.
- Chinese
Accounting Reform
The ICAS publication ‘Chinese Accounting Reform: Towards
a principles-based global regime’, issued in June 2010, provides an insight
into China's adoption of IFRS-based standards and broadens the principles
versus rules debate beyond Europe and the USA.
- Making
financial reporting simpler and more useful
The Global Accounting Alliance’s (GAA’s) report on a
number of roundtable events which took place in 2009, in response to the
publication of its report ‘Getting to the heart of the issue’ discussed below.
- Getting
to the heart of the issue: Can financial reporting be made simpler and more
useful
The GAA’s publication issued in 2008 which discussed the ‘principles versus
rules’ debate, and also the growing complexity and detail contained in company
financial statements.
- Principles
not Rules – A Question of Judgement
Published in April 2006, this ICAS publication was the
culmination of an ICAS working group project which was established to help find
a resolution to the ‘principles versus rules’ debate within international
accounting standard setting.