Under the IASB Framework exposure draft,the qualitative characteristic:

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Under the IASB Framework exposure draft, the qualitative characteristic of reliability has been replaced with faithful representation. This change was made to better reflect the concept that financial information should faithfully represent the underlying transactions and events. Trustworthiness is a broader term that encompasses reliability and other qualities such as integrity and ethical values. Timeliness remains an important qualitative characteristic, and has not been replaced with exactness. Lastly, relevance has not been replaced with significance, as both concepts are still important in financial reporting.

Under the IASB Framework Exposure Draft,the Qualitative Characteristic