Date:  January 13, 2014 

Issue: Accounting

To: International Accounting Standards Board

Filing Type: International

Description: CCMC submitted comments to the International Accounting Standards Board (IASB) regarding its discussion paper on A Review of the Conceptual Framework for Financial Reporting. We appreciate that IASB is developing a complete and updated set of concepts to use when it develops or revises IFRS. This is an important step in the development and sustainment of a high quality global accounting system. The letter provides additional comments related to convergence as well as other matters, including cost-benefit considerations, forward-looking information, other comprehensive income and the use of the business model concept in financial reporting.

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