The future of financial reporting - principles or rules?

Principles only

Principles with minimal additional guidance

Principles with additional guidance or rules

Principles with additional detailed rules

Detailed rules which override any underlying principles

Very rules dominated

Mainly rules

Balanced

Mainly principles

Very principles dominated

Now substantially more weighted towards rules

Now slightly more weighted towards rules

No change

Now slightly more weighted towards principles

Now substantially more weighted towards principles

Made rules-based standards much more likely

Made rules-based standards slightly more likely

No impact

Made principles-based standards slightly more likely

Made principles-based standards much more likely