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25 Sep. 2017

ED 282 Definition of Material

This ED proposes minor amendments to AASB 101 Presentation of Financial Statements and AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors to clarify the definition of ‘material’ and improve understanding of the current requirements. The amendments were originally part of the IASB’s Discussion Paper DP/2017/1 Disclosure Initiative – Principles of Disclosure Discussion Paper and were published separately in an ED to accelerate the work on the proposed clarifications. Comments to the AASB are requested by 17 November 2017.