The Role of IASB on Corporate Reporting Disclosures: Use of Artificial Intelligence

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International Conference on Management and Economics


In the year 2015 the International Accounting Standards Board made a decision to stick to their core business of financial reporting. However, the need for efficient and effective ways of measuring and communicating nonfinancial information is paramount to ensure the realization of corporate reporting disclosure that has been at loggerheads with the traditional financial reporting. The purpose was to provide clarity in how the International Accounting Standards Board could play a more proactive role on corporate reporting disclosures by focusing on artificial intelligence. This will enable preparers to have a clear understanding of which standards would be appropriate when evaluating non-financial information. The paper adopted a qualitative approach whereby white papers from the World Economic Forum as well as journal papers were used. Drawing from the use of artificial intelligence, this paper reported on the current developments of the Global Regulator‘s taxonomy, benefits of corporate reporting disclosures by firms along with practical guidelines for mentality change of Accountants in their profession. Finally, challenges advanced by the artificial intelligence such as societal impacts were argued. It was concluded that the Global Regulator could improve the current taxonomy to include non-financial information. This paper will contribute to the body of knowledge as there is scarcity of published data related to to corporate reporting disclosure in emerging economies as well as their responsiveness to country specific regulators


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Corporate Reporting Disclosure, Integrated Reporting, International Accounting Standard Board, International Financial Reporting Standards


kagwaini, D. (n.d.)2019. The Role of IASB on Corporate Reporting Disclosures: Use of Artificial Intelligence