FRC advises IASB on conceptual framework

Kashflow logo
Share this content

The Financial Reporting Council (FRC) has urged the International Accounting Standards Board (IASB) to re-introduce the concepts of prudence, stewardship and reliability to the principles underlying international accounting standards because they are “fundamental” to financial reporting. 

The FRC was responding to the IASB’s discussion paper on its conceptual framework, which outlines the concepts that underlie the preparation and presentation of financial statements. 

The paper identifies principles for the IASB to use when it...

Please Login or Register to read the full article

The full article is available to registered members only. To read the rest of this article you’ll need to login or register. Registration is FREE and allows you to view all content, ask questions, comment and much more.

About Nick Huber

Nick Huber profile image

I’m a specialist business journalist and have a particular interest in tax and technology. 


Please login or register to join the discussion.

By yamamy
16th Jan 2014 11:02

There and back again!

When the economy was strong, being Prudent was seen to be reducing taxable profit,  Now that economic times have changed, Prudence is again more relevant!

Thanks (0)