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IASB and FASB publish proposals on reporting entity concept

11 March 2010

The International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB) today published for public comment an exposure draft on the reporting entity concept.

The proposals form part of a joint project to develop a common and improved  conceptual frameworkthat provides the basis for developing future accounting standards.

A discussion paper on the reporting entity concept was published in May 2008. Respondents broadly supported the boards’ preliminary views. In response to these comments the exposure draft proposes what a reporting entity is and when an entity controls another entity. 

Comments on the exposure draft are invited by 16 July 2010.

To access the exposure draft Conceptual Framework for Financial Reporting: The Reporting Entity go to the Open to Commentpage or visit

Press enquiries

  • Mark Byatt, Director of Corporate Communications, IASB
    Telephone: +44 (0)20 7246 6472
  • Sonja Horn, Communications Adviser, IASB
    Telephone: +44 (0)20 7246 6463
  • Neal McGarity, Director of Communications, FASB
    Telephone: +1 203 956 5347


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