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A conceptual and regulatory framework

Conceptual Framework

2.1 Qualitative characteristics

Qualitative characteristics are attributes that make information useful. The
Framework splits the characteristics between:

 Fundamental

– Relevance

 Predictive value – evaluate past, present or future events

 Confirmatory value – confirm or correct past evaluations

– Faithful representation

 Complete

 Neutral

 Free from error

 Enhancing

– Comparability

– Verifiability

– Timeliness

– Understandability

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