The International Accounting Standards Board (IASB) is planning to publish a revised version of the Conceptual Framework in mid 2017, following release of the IFRS 17 insurance contracts standard in March. The Conceptual Framework is the anchor document for the global standard setter, designed to assist the IASB with development of International Financial Reporting Standards (IFRS) that are based on consistent concepts; and to assist preparers to develop consistent accounting policies when no IFRS standard applies to a particular transaction or event.
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