In February 2019, the Financial Reporting Council (FRC) published a discussion paper titled Business Reporting of Intangibles: Realistic Proposals
that contemplates proposals for a radical change to the accounting and reporting for intangible assets. A total of 24 responses were received from a wide variety of stakeholders, and their comments are summarized in a feedback statement
FRC staff prepared. Most respondents acknowledged the limitations of the current reporting framework in capturing and clearly disclosing the nature and value of intangibles. But their main concerns over the proposals in the paper revolve around the inherent uncertainty related to the measurement of intangible assets and that any efforts to increase transparency would lead to disclosures that would be highly subjective and beset with a high degree of management judgement.
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