(2)In the framework of its Better Communication in Financial Reporting project which aims at improving the way financial information is communicated to users of the financial statements, the International Accounting Standards Board published on 31 October 2018 Definition of Material (Amendments to IAS 1 and IAS 8) to clarify the definition of ‘material’ to make it easier for companies to make materiality judgements and to enhance the relevance of the disclosures in the notes to the financial statements.