With the proposal of the IASB to reveal accounting policies that are material and not those that are significant, pragmatic interests triumph over the underlying theories of accounting and financial reporting. Faced with a theoretical weakness (understand the significant in the context of risk management) a practical solution is offered (the materiality in the influence for decision-making). Presented as a narrow-scope amendment, it is really a big change that will have important consequences. For now, it has no effect on the IFRS for SMEs. One more difference, against SMEs, until it is incorporated into an upcoming (and uncertain) review of the IFRS for SMEs.
On August 1, 2019, IASB published the Exposure Draft ED / 2019/6 Disclosure of Accounting Policies. Proposed amendments to IAS 1 and IFRS Practice Statement 2 with comments to be received until November 29, 2019.
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