EFAMA comments the IASB's Exposure Draft (ED/2017/7). It supports IASB's efforts to improve consistency in the layout of the primary financial statements and the relevance of financial statements.
Proposals around new defined sub-totals and line items will improve consistency and will assist in the implementation of electronic reporting format initiatives.
EFAMA warns nonetheless against any loss of comparability in the presentation of funds. It calls on the IASB to understand that a Balance Sheet should be structured differently for an investment fund.