EFFAS, EFRAG, AIAF and IASB joint outreach event in Milan, 22 October 2015
EFRAG, EFFAS, AIAF and the IASB are pleased to publish a summary report of their investor outreach event in Milan on 22 October 2015. In the joint outreach event participants discussed the role of profit or loss (P&L) and other comprehensive income (OCI).
In May 2015, the IASB published an Exposure Draft ED/2015/3 Conceptual Framework for Financial Reporting (the ‘ED’) which provides a description of the statement of profit or loss and suggests what OCI could be in undefined circumstances. The ED also seeks feedback on whether there is support for the proposed description of the statement of profit or loss and for proposals on the use of OCI.