Verifiability is one of the qualitative characteristics of financial information, as outlined in the conceptual framework for financial reporting. Verifiability refers to the extent to which financial information can be confirmed by independent observers.

In order to be verifiable, financial information must be based on reliable and objective evidence. This means that the information must be supported by data that can be independently verified by auditors, regulators, or other independent observers.

Verifiability is important for several reasons:

1. It enhances the reliability and credibility of financial information. If financial information can be independently verified, users are more likely to trust and rely on that information.
2. It helps to reduce the risk of fraud or errors in financial reporting. If financial information is subject to independent verification, it is less likely that fraudulent or erroneous information will go undetected.
3. It promotes transparency and accountability in financial reporting. If financial information is subject to independent verification, it is more likely that entities will provide accurate and complete information about their financial position and performance.

Overall, verifiability is an important qualitative characteristic of financial information, as it helps to ensure that financial reporting is reliable, transparent, and credible.