Understandability
QC30 Classifying, characterising and presenting information clearly and concisely makes it understandable.
QC31 Some phenomena are inherently complex and cannot be made easy to understand. Excluding information
about those phenomena from financial reports might make the information in those financial reports easier
to understand. However, those reports would be incomplete and therefore potentially misleading.
QC32 Financial reports are prepared for users who have a reasonable knowledge of business and economic
activities and who review and analyse the information diligently. At times, even well-informed and diligent
users may need to seek the aid of an adviser to understand information about complex economic
phenomena.
Applying the