BC105G Following the issue of the revised Conceptual Framework for Financial Reporting in 2018 (2018 Conceptual Framework), the Board issued Amendments to References to the Conceptual Framework in IFRS Standards. In IAS 1, that document replaced references in paragraphs 15, 19-20, 23-24, 28 and 89 to the Framework with references to the 2018 Conceptual Framework.
BC105H The Board does not expect the replacement of the references to the Framework to have a significant effect on the application of the Standard for the following reasons:
(a) In paragraph 15, replacing the reference to the Framework should not change the assessment of whether the financial statements present fairly the financial position, financial performance and cash flows of an entity. Paragraph 15 explains that the application of IFRS Standards, with additional disclosure when necessary, is presumed to result in financial statements that achieve fair presentation. Revisions of the Conceptual Framework will not automati
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