BC222 For financial instruments, the exposure draft proposed that particular fair value disclosures required in annual financial statements would also be required for interim financial reports. That differed from the approach proposed for non‑financial assets and non‑financial liabilities, for which there is no specific fair value disclosure requirement beyond the existing requirements in IAS 34 Interim Financial Reporting.
BC223 Respondents generally thought that the principle underlying IAS 34 addresses when disclosures should be updated in interim financial reports. Some respondents thought the costs of providing updated information outweighed the benefits to users of financial statements of having that information.
BC224 The IASB decided to include in IAS 34 an explicit requirement to provide updated disclosures because it concluded that the benefit of having incremental disclosures for financial instruments outweighed the associated costs given the increased interest in those
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