The ‘disclosure problem’ continues to pose a challenge to the accounting standard setting community. To help confront this problem, in this commentary we present an exploratory approach for the review and evaluation of note disclosure standards rooted in the conceptual framework’s enhancing qualitative characteristics of comparability, verifiability, timeliness, and understandability. In our approach, note disclosure – an enhancement – is necessary and justified when it rectifies a material information deficiency in the primary financial statements. Our approach requires that the information deficiency, the traceable enhancing qualitative characteristic, and the materiality rationale, are each clearly evident in the written accounting standard. We demonstrate an application of our approach with a case study using the International Accounting Standard (IAS) 1 disclosure guidance on capital structure.