The European Association of Co-operative Banks (EACB) gladly takes the opportunity to comment on the IASB consultation about Disclosure of Accounting Policies (IAS 1 and IFRS Practice Statement 2).
The EACB welcomes the IASB's effort to introduce narrow-scope amendments to IAS 1(Presentation of Financial Statements) and IFRS Practice Statement 2 (Making Materiality Judgements) in order to help companies provide useful accounting policy disclosures to users of financial statements.
The EACB is satisfied in principle with the amendments introduced by the IASB and evaluates them as an initial useful and essential step in order to enhance the provision of clear and useful accounting policy disclosures of financial statements in the financial sector.