Dissent of Françoise Flores from Disclosure of Accounting Policies

DO1 Ms Flores voted against the publication of Disclosure of Accounting Policies, which amends IAS 1 and IFRS Practice Statement 2. [In April 2024 the IASB issued IFRS 18 Presentation and Disclosure in Financial Statements. The IASB carried over some paragraphs unchanged from IAS 1 to IFRS 18 and moved paragraphs relating to disclosures of accounting policies from IAS 1 to IAS 8 Basis of Preparation of Financial Statements.] The reasons for her dissent are set out below.

DO2 Ms Flores agrees with those amendments to IAS 1 and IFRS Practice Statement 2 which aim to provide primary users of financial statements with all and only relevant accounting policy information. She also supports the Board’s past and current efforts to clarify how the concept of materiality should be applied more generally. She agrees with all the amendments except paragraph 117B(e) of IAS 1 and paragraph 88F of IFRS Practice Statement 2. [Paragraph 117B(d) of IAS 1 is now paragraph 27C(e) of IAS 8.]