As part of the year-end audit you are discussing the disclosure checklist with

As part of the year-end audit you are discussing the disclosure checklist with your client. The checklist identifies the items that must be disclosed in a set of IFRS financial statements. The client is surprised by the disclosure item related to accounting policies. Specifically since the audit report will attest to the statements being prepared in accordance with IFRS the client questions the accounting policy checklist item. The client has asked you to conduct some research to verify the accounting policy disclosures. Instructions Access the IFRS authoritative literature at the IASB website ( http://eifrs.iasb.o r g / ). (Click on the IFRS tab and then register for free eIFRS access if necessary.) When you have accessed the documents you can use the search tool in your Internet browser to respond to the following questions. (Provide paragraph citations.) (a) In general what should disclosures of accounting policies encompass? (b) List some examples of the most commonly r equi r ed disclosu r es.

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