DO1 Mr Pacter voted against issuing the amendments to IAS 1 Presentation of Financial Statements set out in Presentation of Items of Other Comprehensive Income in June 2011. Mr Pacter believes that the Board has missed a golden opportunity to align the performance statement with the Board's Conceptual Framework and, thereby, improve information for users of IFRS financial statements [References to the Conceptual Framework in this Dissent are to the Conceptual Framework for Financial Reporting, which was issued in 2010 and in effect when IAS 1 was amended.].
DO2 Mr Pacter believes that ideally this project should have provided guidance, to the Board and to those who use IFRSs, on which items of income and expense (if any) should be presented as items of other comprehensive income (OCI) and which of those (if any) should subsequently be recycled through profit or loss. Mr Pacter acknowledges and accepts that this project has a more short-term goal-'to improve the consistency and clarity
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