Activity news
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30/04/2024 - EFRAG’S Draft Comment Letter on the IASB's ED Business Combinations—Disclosures, Goodwill and Impairment
EFRAG has published its draft comment letter (‘the DCL’) on the IASB’s ED/2024/03 Business Combinations—Disclosures, Goodwill and Impairment (Proposed amendments to IFRS 3, IAS 36) (‘the ED’).Comments to the EFRAG DCL may be submitted until 28 June 2024. -
18/04/2024 - Feedback statement on Accounting for Variable Consideration—From a purchaser’s perspective
EFRAG has now issued its Feedback Statement, summarising the main comments EFRAG received on its Discussion Paper Accounting for Variable Consideration—From a purchaser’s perspective. -
17/04/2024 - Unofficial translation of the VSME ED in Greek available now
EFRAG is pleased to announce that, in addition to unofficial translations in German, French, Spanish and Italian, an unofficial translation of the VSME ED is now available in Greek, facilitating the participation of Greek-speaking constituents in the public consultation and field test. The document can be found here and has been translated by CSR Hellas and CSR Cyprus.
An outreach event will also take place on 19 April to discuss the VSME ED. More info here.
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15/04/2024 - Reporting standard setters get together- KAI to host April 2024 IFASS meeting
The Korean Accounting Institute (KAI) will host the April 2024 meeting of the International Forum of Accounting Standard Setters (IFASS). Chiara Del Prete, IFASS and EFRAG SR TEG Chair, will chair this three-day meeting, taking place on 17, 18 and 19 April.
This meeting will include standard-setters from 34 different jurisdictions worldwide to discuss topics related to financial reporting and sustainability reporting standard setting.
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12/04/2024 - EFRAG publishes Final Comment Letter on the IASB’s Exposure Draft Financial Instruments with Characteristics of Equity
EFRAG has published its Final Comment Letter on the IASB's ED/2023/5 Financial Instruments with Characteristics of Equity (Proposed amendments to IAS 32, IFRS 7 and IAS 1) ('the ED').
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12/04/2024 - Just 10 days to go – EFRAG surveys on the Post-Implementation Review of IFRS 16 Leases
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04/04/2024 - News Item on unofficial translations of the VSME ED in Spanish and Italian
EFRAG is pleased to announce that, in addition to unofficial translations in German and French, unofficial translations of the VSME ED are now available in Spanish and Italian, facilitating Spanish and Italian-speaking constituents to participate in the public consultation and field testing.
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26/03/2024 - Extension of deadline for EFRAG surveys on the Post-Implementation Review of IFRS 16 Leases
In February 2024, EFRAG launched two online surveys to gather input from diverse stakeholder groups on the effects of the implementation of IFRS 16. EFRAG is extending the deadline for responses to 22 April 2024.
To learn more about the purpose and content of the surveys, check out our video with Jens Berger (EFRAG FR TEG Vice Chair) and Kathrin Schöne (EFRAG Project Director).
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26/02/2024 - Reminder - EFRAG’s survey on the IASB’s Exposure Draft Financial Instruments with Characteristics of Equity (‘FICE’) still open for input by 8 March
On 1 February, EFRAG launched an online survey to seek views on the IASB’s ED/2023/5 Financial Instruments with Characteristics of Equity (Proposed amendments to IAS 32, IFRS 7 and IAS 1) (‘the ED’). Watch a brief video explaining what the survey is about, its purpose and a request for constituents to complete it.
We highly encourage stakeholders to complete the online survey by 8 March 2024.
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20/02/2024 - EFRAG survey seeks input from users on the effects of the implementation of IFRS 16 Leases – Has the reporting for leasing activities been improved?
As part of its outreach on the Post-implementation Review of IFRS 16 Leases, EFRAG invites users of financial statements to provide their views on the usefulness of information as a result of the implementation of IFRS 16, by filling in the EFRAG survey. The survey feedback will complement the feedback received from preparers, auditors, regulators, and national standard setters.
Participants can access the survey contents as a PDF here and complete the survey here until 15 April 2024. -
08/02/2024 - Public consultation on the Draft XBRL Taxonomy for ESRS Set 1
Today EFRAG launches its public consultation on the Draft XBRL Taxonomy for ESRS Set 1. In addition, EFRAG consults on the Draft XBRL Taxonomy for Article 8 disclosures that it has been asked to prepare as well. The consultations will be open until 8 April 2024. EFRAG invites stakeholders to review and test the XBRL taxonomies and to complete the surveys.
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15/01/2024 - EFRAG’s draft comment letter on the IASB’s ED Financial Instruments with Characteristics of Equity and invitation to participate in online survey and extensive field-test
EFRAG has published its draft comment letter ('the DCL') on the IASB's ED/2023/5 Financial Instruments with Characteristics of Equity (Proposed amendments to IAS 32, IFRS 7 and IAS 1) ('the ED') and seeks constituents' views on the IASB proposals.
Comments to the EFRAG DCL can be submitted by 20 March 2024.
In coordination with European National Standard Setters, EFRAG is also conducting field-testing of the IASB's proposals included in the ED. Entities can indicate their interest to participate in the extensive field-test at: fice@efrag.org by 23 January 2024.
Those who intend to participate in the online survey do not need to register beforehand.
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07/12/2023 - EFRAG Final Comment Letter on the IASB's Exposure Draft Annual Improvements - Volume 11
EFRAG has published its Final Comment Letter in response to the in response to the IASB's Exposure Draft IASB/AI/ED/2023/1 Annual Improvements—Volume 11 ('the ED').
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01/12/2023 - REMINDER - EFRAG seeks comments on its Draft Endorsement Advice on Lack of Echangeability (Amendments to IAS 21)
EFRAG is consulting on its assessment of Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates Lack of Exchangeability against the technical criteria for endorsement in the EU, and on its assessment on whether the Amendments are conducive to the European public good.
Comments are requested by 7 December 2023 by completing this form.
EFRAG's draft endorsement advice letter is available here.
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29/11/2023 - Report with key messages from the September 2023 IFASS meeting available
A report with the key messages and points of discussion from the financial and sustainability reporting topics covered at the September 2023 IFASS (International Forum of Accounting Standard Setters) meeting has been issued.
Read the report here. -
27/11/2023 - EFRAG-supported academic study sheds light on costs and benefits of the IFRS 15 adoption
EFRAG has published an EFRAG-supported academic study on the effects of the adoption of IFRS 15 Revenue from Contracts with Customers on preparers and users of financial statements. The study's findings shed light on the related costs and benefits and these findings were incorporated into EFRAG's comment letter on the post-implement review of IFRS 15. The study is available here.
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24/11/2023 - Deadline approaching - Provide your comments on EFRAG’s Discussion Paper Accounting for Variable Consideration - From a Purchaser’s Perspective
The deadline for commenting on EFRAG’s Discussion Paper on variable consideration is 30 November 2023.
Stakeholders are invited to provide their comments!
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23/11/2023 - Reminder – Please respond to the EFRAG Draft Comment Letter on the IASB's Exposure Draft Annual Improvements - Volume 11 by 28 November
Constituents have until 28 November 2023 to respond to the EFRAG Draft Comment Letter ('the DCL’) in response to the IASB's Exposure Draft IASB/AI/ED/2023/1 Annual Improvements—Volume 11 ('the ED').
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03/11/2023 - EFRAG Draft Comment Letter on the IASB's Exposure Draft Annual Improvements - Volume 11
EFRAG has published its Draft Comment Letter in response to the IASB's Exposure Draft IASB/AI/ED/2023/1 Annual Improvements—Volume 11 ('the ED'). Comments can be submitted until 28 November 2023.
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31/10/2023 - SAVE THE DATE - Roundtable on the Statement of Cash Flows – Is there a need for change ? – Users and Academics - 1 December 2023
EFRAG invites users and academics to a roundtable discussion on its proactive research project on the statement of cash flows. The targeted outreach event will focus on identifying the objectives/uses of and the issues with how the statements of cash flows are currently prepared.
This online event will take place on 1 December 2023, from 12.00 to 15.00 CET. Register here.
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30/10/2023 - SAVE THE DATE - Roundtables on the Statement of Cash Flows – Is there a need for change? – Corporates - 27 November 2023 or 4 December 2023
EFRAG invites preparers and auditors of corporates to a roundtable discussion on its proactive research project on the statement of cash flows. The targeted outreach event will focus on identifying the objectives/uses of the statement of cash flows and the issues concerning how the statements of cash flows are currently prepared under the requirements of IAS 7 Statement of Cash Flows.
These online events will take place online on 27 November 2023 from 09.30 to 12.00 CET and on 4 December 2023 from 09.30 to 12.00 CET.
Participants may choose their preferred date and time. The topics of discussions will be identical during both events.
Register here.
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27/10/2023 - Publication of EFRAG's Final Comment Letter in response to the IASB Request For Information on the Post-Implementation Review of IFRS 15 Revenue from Contracts with Customers
EFRAG has published its Final Comment Letter in response to the IASB Request for Information for the Post-implementation Review of IFRS 15 Revenue from Contracts with Customers.
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27/10/2023 - SAVE THE DATE - Roundtable on the Statement of Cash Flows – Is there a need for change? – Financial Institutions – 17 November 2023
EFRAG invites financial institutions and auditors of financial institutions to a roundtable discussion on its proactive research project on the statement of cash flows. The targeted outreach event will focus on identifying the objectives/uses of and the issues with how the statements of cash flows are currently prepared, focusing more specifically on financial institutions.
This closed event will take place on 17 November, from 13.30 to 16.00 CET and will be held online. Register here.
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10/10/2023 - EFRAG’s survey - Business Combinations – Disclosures, Goodwill and Impairment: Disclosures
EFRAG is launching a survey to seek preparers’ views on the IASB’s tentative decisions on its project Business Combinations - Disclosure, Goodwill and Impairment regarding the disclosure requirements for business combinations.
You can submit your answers by using the link to the survey before 30 November 2023. You can have an overview of the survey in PDF here.
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04/10/2023 - EFRAG's Endorsement Advice on Supplier Finance Arrangements - Amendments to IAS 7 and IFRS 7
EFRAG has completed its due process regarding Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7) and has submitted its Endorsement Advice Letter to the European Commission.
The Endorsement Advice Letter to the European Commission can be found here.
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29/09/2023 - EFRAG extends the period to answer the call for tenders to assist EFRAG in identifying uses of and issues with the statement of cash flows
EFRAG announces that submission deadline for the call for tenders to assist EFRAG in identifying uses and issues with the statement of cash flows is extended for one week. Tenders can now be submitted by Friday 13 October 2023, 18:00 Brussels time to: call.for.tender@efrag.org.
Access the components of this call for tenders: -
28/09/2023 - GERMAN SPEAKING ONLINE OUTREACH EVENT ON THE IASB’S POST-IMPLEMENTATION REVIEW OF IFRS 15 - 9 OCTOBER 2023 - EFRAG JOINS THE ASCG, AFRAC AND FER
On 9 October 2023, the Accounting Standards Committee of Germany (ASCG), together with the standard setters from Austria (AFRAC) and Switzerland (FER), EFRAG and the IASB will discuss the preliminary views regarding the application of IFRS 15.
If you want to participate, please contact bahrmann@drsc.de. The discussion will be held in German. -
28/09/2023 - EFRAG seek comments on its Draft Endorsement Advice on Lack of Echangeability (Amendments to IAS 21)
EFRAG is consulting on its assessment of Amendments to IAS 21 The Effects of Changes in Foreign Exchange RatesLack of Echangeability against the technical criteria for endorsement in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 7 December 2023 by completing the form available here. EFRAG's draft endorsement advice letter is available here.
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27/09/2023 - EFRAG Final Comment Letter in response to the IASB Request for Information on the Post-Implementation Review of IFRS 9 Financial Instruments - Impairment
EFRAG has published its Final Comment Letter (‘FCL’) in response to the IASB's Request for Information as a part of the Post-implementation Review (‘PIR’) of the impairment requirements in IFRS 9 Financial Instruments.
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26/09/2023 - New IFASS meeting on 26 - 27 September 2023
The International Forum of Accounting Standard Setters (IFASS) meet today 26 and tomorrow 27 September 2023 in London, UK to discuss topics related to financial and sustainability reporting.
The meeting will be chaired by Chiara Del Prete, IFASS and EFRAG SR TEG Chairwoman.
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18/09/2023 - Join EFRAG’S sector-specific communities supporting the development of draft sector-specific ESRS
EFRAG is reactivating the sector-specific communities created in 2022 and invite newcomers with an interest in participating in the development of draft sector-specific ESRS to join as well.
EFRAG will be organising workshops for the sector-specific communities in the course of autumn 2023.
Fill in this form if you want to join the EFRAG Sector Community.
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14/09/2023 - EFRAG publishes its Briefing Summary on Climate-related Risks in the Financial Statements
EFRAG has issued a Briefing Summary on the IASB's project on Climate-related Risks in the Financial Statements.
The Briefing Summary highlights key findings from EFRAG’s outreach and other reviews of European companies’ related reporting.
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08/09/2023 - Open call for tenders to assist EFRAG in identifying uses of and issues with the statement of cash flows
Today, EFRAG has issued an open call for tenders to assist EFRAG in identifying uses and issues with the statement of cash flows. Tenders must be submitted by Friday 29 September 2023, 18:00 Brussels time to: call.for.tender @ efrag.org.
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07/09/2023 - EFRAG publishes its final comment letters on the ISSB consultations on Agenda priorities and SASB methodology
EFRAG has published its final comment letters on the ISSB RFI Consultation on Agenda Priorities and the SASB Internationalisation ED.
The comment letters can be consulted here:
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02/08/2023 - EFRAG seeks users’ input on the effects of the implementation of IFRS 15 Revenue from Contracts with Customers
As part of its outreach on the Post-implementation Review of IFRS 15 Revenue from Contracts with Customers, EFRAG invites users of financial statements to participate in interviews on the effects of the implementation of IFRS 15, which are to be conducted until early October 2023.
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24/07/2023 - EFRAG Draft Comment Letter in response to the IASB Request For Information on the Post-implementation Review of IFRS 15 Revenue from Contracts with Customers
EFRAG has published its Draft Comment Letter in response to the IASB's Request for Information for the Post-implementation Review of IFRS 15 Revenue from Contracts with Customers and seeks constituents’ comments by 11 October 2023.
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24/07/2023 - Comment on EFRAG’s Discussion Paper - Accounting for Variable Consideration – From a purchaser’s perspective
To stimulate the debate and enable responses to EFRAG’s Discussion Paper Accounting for Variable Consideration – From a purchaser’s perspective, EFRAG has made it possible to provide comments through an electronic survey. Comments to the Discussion Paper are requested by 30 November 2023.
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19/07/2023 - EFRAG’s Final Comment Letter on the IASB’s ED Amendments to the Classification and Measurement of Financial Instruments
EFRAG has published its Final Comment Letter in response to the IASB's Exposure Draft 2023/2 Amendments to the Classification and Measurement of Financial Instruments (Proposed amendments to IFRS 9 and IFRS 7) (‘the ED’).
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18/07/2023 - EFRAG Draft Comment Letter in response to the IASB Request for Information on the Post-Implementation Review of IFRS 9 Financial Instruments - Impairment
EFRAG has published its Draft Comment Letter (DCL) in response to the IASB's Request for Information as a part of the Post-implementation Review (‘PIR’) of the impairment requirements in IFRS 9 Financial Instruments and seeks constituents' views on how the requirements are working in practice.
Comments on the Draft Comment Letter are requested by 13 September 2023.
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18/07/2023 - EFRAG seek comments on its Draft Endorsement Advice on Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7)
EFRAG is consulting on its assessment of Supplier Finance Arrangements (‘SFAs’) (Amendments to IAS 7 and IFRS 7) (‘the Amendments’) against the technical criteria for endorsement in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 11 September 2023.
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23/06/2023 - Report with key messages from the April 2023 IFASS meeting available
A report with the key messages and points of discussion from the financial and sustainability reporting topics covered at the April 2023 IFASS (International Forum of Accounting Standard Setters) meeting has been issued.
Read the report here.
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22/06/2023 - REMINDER – please respond to the EFRAG draft comment letter on the IASB’s ED Amendments to the Classification and Measurement of Financial Instruments by 30 June
Constituents have untill 30 June 2023 to respond to the EFRAG Draft Comment Letter ('the DCL’) on the IASB's Exposure Draft 2023/2 Amendments to the Classification and Measurement of Financial Instruments (Proposed amendments to IFRS 9 and IFRS 7).
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16/06/2023 - Launch of the EFRAG Connectivity Advisory Panel - Composition and related community
EFRAG FR TEG approved the composition of the EFRAG Connectivity Advisory Panel (EFRAG CAP) and welcomed the establishment of the EFRAG Connectivity Community.
EFRAG CAP will advise EFRAG FR TEG on the proactive research project on the connectivity between financial reporting and sustainability reporting information. -
02/06/2023 - EFRAG endorsement advice on amendments to IAS 12 and feedback statement on EFRAG draft comment letter
EFRAG has completed its due process regarding Amendments to IAS 12 - International Tax Reform—Pillar Two Model Rules and has submitted its Endorsement Advice Letter to the European Commission.
EFRAG has also published its Feedback Statement related to its final comment letter on the proposed amendments to IAS 12.
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02/06/2023 - EFRAG's draft comment letter (DCL) on ISSB ED on SASB internationalisation and Taxonomy updates
EFRAG is consulting and asks for comments by 10 July 2023 on its draft comment letter in response to the ISSB ED on Internationalisation of SASB Standards and SASB Standards Taxonomy updates.
Stakeholders can provide inputs to EFRAG's preliminary answers by way of an online survey that can be accessed here. Alternatively, EFRAG accepts comment letters submitted by using the Express your views page on EFRAG's website.
Comments should be submitted by 10 July 2023.
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24/05/2023 - EFRAG seeks input from preparers on an academic survey on the effects of IFRS 15 Revenue from Contracts with Customers
EFRAG encourages preparers to provide input to an academic study on the effects of the adoptions of IFRS 15 Revenue from Contracts with Customers on management control systems. The study will be important for EFRAG's work related to the IASB's Post-implementation Review of IFRS 15. Interested stakeholders have until 1 September to share their views.
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10/05/2023 - EFRAG, EFFAS and ICAS supported study on the production and consumption of information on intangibles
EFRAG has published the academic study The production and consumption of information on intangibles: An empirical investigation of preparers and users.
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05/05/2023 - EFRAG draft comment letter on the IASB’s ED Amendments to the Classification and Measurement of Financial Instruments – proposed amendments to IFRS 9 and IFRS 7
EFRAG has published its Draft Comment Letter in response to the IASB's Exposure Draft 2023/2 Amendments to the Classification and Measurement of Financial Instruments (Proposed amendments to IFRS 9 and IFRS 7) (‘the ED’). Comments can be submitted until 30 June 2023.
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27/04/2023 - EFRAG’s Recommendations and Feedback Statement on Better Information on Intangibles
EFRAG has issued its Recommendations and Feedback Statement summarising the main comments received by EFRAG on its Discussion Paper Better Information on Intangibles – Which is the best way to go?
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24/04/2023 - EFRAG requests comments on preparatory draft for the endorsement advice on amendments to IAS 12
EFRAG is consulting on its preparatory draft for its Endorsement Advice letter on International Tax Reform—Pillar Two Model Rules (Amendments to IAS 12) against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 24 May 2023.
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19/04/2023 - IFASS meeting in April 2023
The International Forum of Accounting Standard Setters (IFASS) will meet on 19-21 April 2023 at the FASB offices in Norwalk, USA to discuss topics related to financial and sustainability reporting.
The meeting will be chaired by Chiara Del Prete, IFASS & EFRAG SR TEG Chairwoman.
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05/04/2023 - EFRAG's Endorsement Advice On Amendments to IAS 1
EFRAG has completed its due process regarding the Amendments to IAS 1 Presentation of Financial Statements (‘the Amendments’) and has submitted its Endorsement Advice Letter to the European Commission.
The Endorsement Advice Letter to the European Commission can be found here.
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14/03/2023 - EFRAG’s Final Comment Letter on the IASB’s ED International Tax Reform – Pillar Two Model Rules
EFRAG has published its Final Comment Letter in response to the IASB's Exposure Draft 2023/1 International Tax Reform—Pillar Two Model Rules (Proposed Amendments to IAS 12) (the “ED”).
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09/03/2023 - EFRAG extends the deadline to respond to its Discussion Paper - Accounting for Variable Consideration - From a Purchaser's Perspective
EFRAG published its Discussion Paper on Accounting for Variable Consideration on 27 September 2022. To allow more time for interested stakeholders to provide their views, responses are now requested by 30 November 2023.
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28/02/2023 - Report with key messages from the January 2023 IFASS meeting available
A report with the key messages and points of discussion from the topics covered at the January 2023 IFASS (International Forum of Accounting Standard Setters) meeting has been issued.
Read the report here.
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21/02/2023 - REMINDER | EFRAG Draft Comment Letter on the IASB’s ED International Tax Reform – Pillar Two Model Rules - Deadline 27 February 2023
EFRAG asks constituents to provide their views on the EFRAG draft comment letter in response to the IASB's Exposure Draft 2023/1 International Tax Reform—Pillar Two Model Rules (Proposed Amendments to IAS 12) (the “ED”).
Comments are welcome by 27 February 2023.
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10/02/2023 - EFRAG PODCAST - Accounting for variable consideration – from a purchaser perspective
Become familiar with EFRAG’s Discussion Paper: Accounting for variable consideration – from a purchaser’s perspective in 7 minutes.
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31/01/2023 - EFRAG'S Endorsement Advice on Amendments to IFRS 16
EFRAG has completed its due process regarding Lease Liability in a Sale and Leaseback (Amendments to IFRS 16) and has submitted its Endorsement Advice Letter to the European Commission.
The Endorsement Advice Letter to the European Commission can be found here.
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30/01/2023 - EFRAG Draft Comment Letter on the IASB’s ED/2023/1 International Tax Reform – Pillar Two Model Rules
EFRAG has published its Draft Comment Letter in response to the IASB's Exposure Draft 2023/1 International Tax Reform - Pillar Two Model Rules (Proposed Amendments to IAS 12) (the “ED”). Comments can be submitted until 27 February 2023.
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27/01/2023 - Academic study - The Theory and Practice of Discounting in Financial Reporting under IFRS
EFRAG and ICAS has published a co-sponsored academic study on the theory and practice of discounting. The study is available here. Comments are requested by 31 March 2023.
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27/01/2023 - Academic Study - Do companies disclose relevant information about intangibles? – Insights from business model reporting and risk reporting
EFRAG and ICAS have published a co-sponsored study examining information about intellectual capital elements when an entity is describing its business model and its risks. The study is available here.
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23/12/2022 - Primary Financial Statements - Summary Report and Recommendations - Targeted Outreach Roundtables
In order to receive input from preparers and to stimulate the discussion on the key tentative changes to the IASB’s proposals in the Exposure Draft General Presentation and Disclosures, from September to November 2022, EFRAG and the IASB organised joint outreach roundtables with European Stakeholders. EFRAG has now issued a Summary Report and Recommendations that summarises the feedback received during those events and provides a number of recommendations to the IASB.
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22/12/2022 - EFRAG seeks comments on its draft endorsement advice on amendments to IAS 1
EFRAG is consulting on its assessment of the Amendments to IAS 1 Presentation of Financial Statements against the technical criteria for use in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 1 March 2023.
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29/11/2022 - EFRAG summary reports of the PFS roundtables with preparers held on 24 October, 2 and 4 November 2022
EFRAG has issued reports about feedback received from participants during the roundtables on the IASB’s tentative decisions to change the Exposure Draft General Presentation and Disclosures.
In the roundtables, which were undertaken jointly with the IASB and in collaboration with national standard setters on 24 October, 2 and 4 November 2022, preparers discussed potential implementation and application concerns, potential additional guidance on specific topics and the efforts required to implement and apply the IASB’s selected tentative decisions.
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18/11/2022 - Calling the EFRAG Community Sector Groups - Workshops for draft Sector Sustainability Reporting Standards
EFRAG announces the dates and timing of the workshops to discuss the draft disclosures related to:
- Textiles, Accessories, Footwear, Jewellery
- Mining & Coal Mining
- Road Transport
- Food & Beverages
- Energy Production & Utilities
- Textiles, Accessories, Footwear, Jewellery
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11/11/2022 - EFRAG seeks comments on its draft endorsement advice on Lease Liability in a Sale and Leaseback (Amendments to IFRS 16)
EFRAG is consulting on its assessment of Lease Liability in a Sale and Leaseback (Amendments to IFRS 16) (‘the Amendments’) against the technical criteria for endorsement set out in Regulation (EC) No 1606/2002 and on its assessment of whether the Amendments are conducive to the European public good.
Comments from all interested stakeholders are requested by 9 January 2023 by completing the form here.
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10/11/2022 - Calling the EFRAG Community Sector Groups - Workshops for draft Sector Sustainability Reporting Standards
EFRAG announces the dates and timing of the workshops to discuss the sustainability matters and related regulations, for the draft ESRS sector-specific standards related to:
- Textiles, accessories, footwear, jewellery
- Food and beverages
- Agriculture and farming
- Oil & gas (upstream & downstream)
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08/11/2022 - Report with key messages from the September 2022 IFASS meeting available
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24/10/2022 - Calling the EFRAG Community Sector Groups - Workshops for draft Sector Sustainability Reporting Standards
EFRAG announces the dates and timing of the workshops to discuss the sustainability matters and related regulations, for the Sustainability Reporting draft Sector Standards related to:
- Motor vehicles
- Energy Production and Utilities
- Road Transport
Register here for the public sessions to receive a summary and to discuss the topics with other interested stakeholders. -
18/10/2022 - EFRAG releases its educational session on the IASB’s Primary Financial Statements project
The EFRAG Secretariat releases its educational session on the Primary Financial Statements project presenting an overview of EFRAG’s work on the project, and useful educational material for the forthcoming roundtables and webinars. The purpose is to help participants of the targeted outreach with their preparations. Watch the educational session here.
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14/10/2022 - Calling the EFRAG Community Sector Groups - Workshops for draft Sector Sustainability Reporting Standards
EFRAG announces the dates and timing of the workshops to discuss the sustainability matters and related regulations, for the Sustainability Reporting draft Sector Standards related to:
- Motor Vehicles; and
- Agriculture, Farming and Fishing.
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12/10/2022 - EFRAG educational session on the IASB’s Primary Financial Statements project
On 18 October 2022, the EFRAG Secretariat will provide an educational session on the Primary Financial Statements project presenting an overview of EFRAG’s work on the project, and useful educational material for the forthcoming roundtables and webinars. The purpose is to help participants to the targeted outreach with their preparations. The educational session will be available here.
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06/10/2022 - Calling the mining, coal and oil and gas community sector groups: Workshops for draft Sector Sustainability Reporting Standards
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27/09/2022 - EFRAG Discussion Paper - Accounting for Variable Consideration - from a Purchaser's Perspective
EFRAG has published a Discussion Paper on Accounting for Variable Consideration and invites constituents to comment by 31 May 2023.
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23/09/2022 - Join EFRAG’s Community Sector Groups supporting the development of Sector specific draft ESRS
EFRAG is establishing Community Sector Groups across a number of sectors to allow a diverse range of external stakeholders to provide input, contribute and support their work in the development of Sector specific draft ESRS.
EFRAG welcomes applications from stakeholders that have a direct interest in the respective sector(s) to join these Community Sector Groups as part of their preparation for sector specific workshops and outreach events which will take place during October and November 2022.
Support your sector on this new green path: complete the online application form before 7 October 2022 here.
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21/09/2022 - EFRAG invites companies to participate in roundtable discussions on the IASB’s project Primary Financial Statements
EFRAG in coordination with the IASB and European national standard setters will conduct roundtable discussions with preparers focused on a selection of tentative decisions made by the IASB. These represent a change to the proposals in the Exposure Draft General Presentation and Disclosures (‘the ED’) issued in 2019.
EFRAG would like to invite you to participate in the roundtable discussions taking place on 24 October and 2 November 2022, from 9h to 11h (CET) (closed online event).
If you are interested to participate and express your views, please contact ioana.kiss@efrag.org by 30 September 2022.
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21/09/2022 - Update on IFASS meeting in September 2022
The International Forum of Accounting Standard Setters (IFASS) will meet on 27-28 September 2022 in London and discuss topics related to financial and sustainability reporting.
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27/07/2022 - EFRAG's Feedback Statement on the IASB's Third Agenda Consultation and EFRAG's own Proactive Research Agenda
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26/07/2022 - Danish outreach event on Better Information on Intangibles
On 22 August 2022,from 9:00 to 12:00 (CET), EFRAG, the Confederation of Danish Industry (DI) and FSR – Danish Auditors are organising a public outreach event in Copenhagen on EFRAG’s DP Better Information on Intangibles – Which is the best way to go?
Registration form and programme are available here. This event is physical only and will be held in English.
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01/07/2022 - Rescheduled EFRAG ESRS workshops on Sector Specific Sustainability Reporting Standards - Insurance, Sales and Trade and Motor vehicles
EFRAG calls for experts in the sustainability reporting field with background on Insurance (Wednesday 13 July PM), Sales and Trade (Monday 18 July AM) and Motor Vehicles (Monday 18 July PM) to participate in these workshops and to provide input on the draft Sector Specific Sustainability Reporting Standards.
The application deadline for these rescheduled workshops is one week before the actual workshop.
Please submit your application here.
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01/07/2022 - Reminder - EFRAG seeks input from users and preparers on an academic survey on the effects of IFRS 15 Revenue from Contracts with Customers
EFRAG reminds users and preparers to provide input to an academic study on the effects of IFRS 15 Revenue from Contracts with Customers. The study will be important for EFRAG's work related to the IASB's Post-implementation Review of IFRS 15.
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22/06/2022 - Reminder – Provide your comments on EFRAG’s Discussion Paper on Intangibles
The deadline for commenting on EFRAG’s Discussion Paper Better Information on Intangibles – Which is the best way to go? is approaching (30 June 2022). Please provide your comments by submitting a comment letter or by using the electronic survey.
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25/05/2022 - Draft ESRS - Use Test Focus Group: testing the proposals for sustainability reporting
EFRAG invites preparers to join its Use Test Focus Group to test the usability of the draft ESRS requirements through completion of a questionnaire and participating in a workshop. The results will be considered by EFRAG as part of the other feedback received on its exposure drafts on sustainability reporting.
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23/05/2022 - EFRAG Public call for tenders - Assisting EFRAG in analysing the feedback from its public consultation on Draft ESRS
EFRAG is launching a call for tenders for assistance in analysing the feedback that EFRAG will receive to its public consultation on the first set of draft European Sustainability Reporting Standards Exposure Drafts (ESRS EDs)
The purpose of the public consultation, open until 8 August 2022, is to receive feedback from constituents on both the relevance and priorities of the ESRS EDs designed to cover the first set of ESRS defined by Article 19b.1.a of the proposal for a CSRD. EFRAG expects to receive many opinions and suggestions from stakeholders, in a structured and unstructured format.
The purpose of this call for tenders is to analyse and structure the feedback received to the public consultation in a way that will allow EFRAG to focus on addressing the issues raised. The work is to be completed following a timeline set out in the invitation with the final Report due by Friday 9 September 2022.
The call for tenders can be downloaded here.
Tenders should be sent to EFRAG at the following email address: call.for.tender@EFRAG.ORG no later than 27 June 2022.
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23/05/2022 - EFRAG's Final Letter on the IFRS Interpretations Committee's Tentative Agenda Decisions in the final phase of implementing IFRS 17 Insurance Contracts
EFRAG has published its Final Letter on the IFRS Interpretations Committee's (IFRS IC's) Tentative Agenda Decision in the final phase of implementing IFRS 17 Insurance Contracts. EFRAG's Final Letter is available here.
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06/05/2022 - EFRAG is extending the period to answer to its call for tenders for the cost-benefit analysis of the first set of draft European Sustainability Reporting Standards
Following the launch of the public consultation on the exposure-drafts of the first set of draft European Sustainability Reporting Standards (draft ESRS EDs), EFRAG is extending the period to respond to its call for tenders for the cost-benefit analysis of the draft ESRS to allow more time for tenderers to consider the published documents..
The time limit to respond to the call for tenders is extended until Friday 27 May 2022. The revised call for tenders is accessible here.
Tenders, should include a completed and signed Information Form and all the information specifically requested in the call for tenders, should be sent to EFRAG at the following email address: call.for.tender@EFRAG.ORG no later than Friday 27 May 2022.
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02/05/2022 - EFRAG's Feedback Statement on the IASB Exposure Draft ED/2021/10 Supplier Finance Arrangements
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29/04/2022 - EFRAG's Feedback Statement on the IASB Exposure Draft ED/2021/9 Non-current Liabilities with Covenants
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29/04/2022 - EFRAG's Recommendations and Feedback Statement on Accounting for Crypto-Assets (Liabilities)
The Recommendations and Feedback Statement summarises the main comments received by EFRAG on its Discussion Paper - Accounting for Crypto-Assets (Liabilities) (the 'EFRAG DP') and includes EFRAG's recommendations for developing IFRS requirements for crypto-assets (liabilities).
The Recommendations and Feedback Statement can be accessed here. -
21/04/2022 - EFRAG's Draft Letter on the IFRS IC's Tentative Agenda Decisions in the final phase of implementing IFRS 17 Insurance Contracts
EFRAG has published a Draft Letter on the IFRS IC's Tentative Agenda Decisions in the final phase of implementing IFRS 17 Insurance Contracts and seeks constituents' views on the letter. Comments are requested by 17 May 2022. The Draft Letter is available here.
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15/04/2022 - EFRAG's Feedback Statement on Subsidiaries without Public Accountability - Disclosures
The Feedback Statement summarises the main comments received by EFRAG on its Draft Comment Letter to the IASB Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures (the 'ED') and explains how those comments were considered by EFRAG during its technical discussions leading to the publication of EFRAG’s Final Comment Letter.
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31/03/2022 - Open call for tenders to assist EFRAG in its cost-benefit analysis of draft European Sustainability Reporting Standards
EFRAG has issued today an open call for tenders to assist EFRAG in the cost-benefits analysis of the first set of European Sustainability Reporting Standards (ESRS).
Tenders, which should include a completed and signed Information Form and all the information specifically requested in the call for tenders, should be sent to EFRAG at call.for.tender@EFRAG.ORG no later than Thursday 28 April 2022 18.00 hrs Brussels time.
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30/03/2022 - EFRAG issues its Due Process Procedures for Sustainability Reporting Standard Setting
EFRAG is pleased to inform stakeholders about a major development in its governance reform with the publication of the Due Process Procedures for Sustainability Standard-Setting (the DPP). The provisions contained in the DPP apply to the preparation of draft EU sustainability reporting standards by EFRAG.
EFRAG is also publishing a Feedback Statement explaining how the feedback received from the 2021 public consultation on the DPP was considered.
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29/03/2022 - EFRAG's final comment letters on the IASB'S exposure drafts on Non-Current Liabilities with Covenants and Supplier Finance Arrangements
EFRAG has published its comment letters in response to the IASB's Exposure Drafts ED/2021/9 Non-Current Liabilities with Covenants and ED/2021/10 Supplier Finance Arrangements (the EDs). In the EDs, the IASB proposes to clarify the classification of liabilities with covenants as non-current versus current and to enhance the transparency of reporting for supplier finance arrangements and their effects on an entity’s liabilities and cash flows. Please find the comment letter on ED/2021/09 Non-Current Liabilities with Covenants here and the one on ED/2021/10 Supplier Finance Arrangements here.
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25/03/2022 - EFRAG publishes today the last PTF-ESRS Cluster Working Paper
As part of the due process during the project mode EFRAG publishes the last PTF-ESRS Cluster Working Paper: ESRS G2 Products and services, management and quality of relationships with business partners.
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22/03/2022 - EFRAG seeks input from users and preparers on the effects of IFRS 15 on revenue recognition
Users and preparers are requested to provide input to an academic study on the effects of IFRS 15 Revenue from Contracts with Customers. The study will be important for EFRAG's work related to the IASB's Post-implementation Review of IFRS 15. Input can be provided by completing this survey.
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18/03/2022 - EFRAG publishes today the next PTF-ESRS Cluster Working Paper
As part of the due process during the project mode EFRAG publishes the next PTF-ESRS Cluster Working Paper: Working Paper ESRS 1 General Provisions and its cover note.
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14/03/2022 - EFRAG publishes today the next set of PTF ESRS cluster working papers
As part of the due process during the project mode EFRAG publishes the next set of PTF ESRS Cluster Working Papers.
Included in this set is the Cluster Working Paper on ESRS S2 Own Workforce-Working Conditions, ESRS S3 Own Workforce- Equal opportunities, ESRS G1 Governance, risk management and internal control, ESRS G3 Business conduct. -
04/03/2022 - Efrag's Feedback Statement on Disclosure Requirements in IFRS Standards - A Pilot Approach
The Feedback Statement summarises constituents' feedback on EFRAG's Draft Comment Letter relating to the IASB's Exposure Draft 2021/3 Disclosure Requirements in IFRS Standards – A Pilot Approach (the 'ED') and explains how EFRAG considered this feedback in developing its Final Comment Letter.
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03/03/2022 - EFRAG publishes today the next set of PTF ESRS Cluster Working Papers
As part of the due process during the project mode EFRAG publishes the next set of PTF ESRS Cluster Working Papers.
Included in this set is the Cluster Working Paper on ESRS P1 on Sustainability Statements, ESRS S1 on Own workforce – General, ESRS S4 on Own workforce – Other work-related rights, ESRS S5 on Workers in the value chain, ESRS S6 on Affected communities, ESRS S7 on End-users / consumers, ESRS E4 on biodiversity and ecosystems.
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02/03/2022 - Deadline extensions for questionnaires related to Supplier Finance Arrangements and Non-Current Liabilities with Covenants
EFRAG invites users and preparers to complete either or both of its online questionnaires on Non-Current Liabilities with Covenants (IAS 1) and Supplier Finance Arrangements (SFA). Both projects aim to improve financial reporting of liquidity risks. Please find the Non-Current Liabilities with Covenants questionnaire for users or preparers here and the Supplier Finance Arrangements questionnaire for preparers here. EFRAG extends the deadline for the surveys until 9 March 2022 and reminds of the end of comment period to send comment letters for both IAS 1 and SFA.
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25/02/2022 - EFRAG publishes today the next set of PTF ESRS Cluster Working Papers
As part of the due process during the project mode EFRAG publishes the next set of PTF ESRS Cluster Working Papers.
Included in this set is the Cluster Working Paper on ESRS SEC1 Sector classification standard.
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25/02/2022 - EFRAG's Final Comment Letter on the IASB ED Subsidiaries without Public Accountability: Disclosures
EFRAG has published its Final Comment Letter in response to the IASB's Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures. In the ED, the IASB proposes that eligible subsidiaries can provide reduced disclosure requirements together with the recognition, measurement and presentation requirements in IFRS Standards.
In addition, EFRAG has issued a Summary of the inputs received from preparers that includes the feedback received from EFRAG's survey "Would you prefer less disclosures for subsidiaries? and a Briefing prepared by the EFRAG Secretariat focused on the compatibility of the Accounting Directive 2013/34/EU with the IASB's ED.
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21/02/2022 - EFRAG's Feedback Statement on Post-Implementation Review of IFRS 9 - Classification and Measurement
The Feedback Statement summarises constituents' feedback on EFRAG's Draft Comment Letter relating to the IASB's Request for Information IFRS 9 Financial Instruments - Classification and Measurement - Post-Implementation Review and explains how EFRAG considered this feedback in developing its Final Comment Letter.
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18/02/2022 - REMINDER - EFRAG encourages participation in its surveys on Supplier Finance Arrangements and Non-Current Liabilities
EFRAG invites users and preparers to complete either or both of its online questionnaires on Non-current Liabilities with Covenants and Supplier Finance Arrangements by 4 March 2022. Both projects aim to improve financial reporting of liquidity risks. Please find the Non-Current Liabilities with Covenants questionnaire for users or preparers here and the Supplier Finance Arrangements questionnaire for preparers here.
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02/02/2022 - Comment on EFRAG’s Discussion Paper: Better Information on Intangibles – Which is the best way to go?
To stimulate the debate on EFRAG’s Discussion Paper Better Information on Intangibles – Which is the best way to go? EFRAG has made it possible to provide comments by means of an electronic survey. Comments to the Discussion Paper are requested by 30 June 2022.
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01/02/2022 - EFRAG's Feedback Statement on Management Commentary
The Feedback Statement summarises constituents' feedback on EFRAG's Draft Comment Letter relating to the IASB Exposure Draft 2021/06 Management Commentary and explains how EFRAG considered this feedback in developing its Final Comment Letter.
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01/02/2022 - EFRAG's endorsement advice on Initial Application of IFRS 17 and IFRS 9 – Comparative Information (Amendment to IFRS 17)
EFRAG has completed its due process regarding Initial Application of IFRS 17 and IFRS 9 – Comparative Information (Amendment to IFRS 17) and has submitted its Endorsement Advice Letter to the European Commission.
The Endorsement Advice Letter to the European Commission can be found here.
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01/02/2022 - EFRAG asks for your views on Classification of Liabilities with Covenants and Supplier Finance Arrangements
EFRAG invites constituents to complete either or both of its online questionnaires on Non-current Liabilities with Covenants and Supplier Finance Arrangements by 4 March 2022. Both projects aim to improve reporting of liquidity risks. Please find the Non-Current Liabilities with Covenants questionnaire here and the Supplier Finance Arrangements questionnaire here.
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28/01/2022 - EFRAG's Final Comment letter in response to the IASB Request for Information on the Post-implementation Review of IFRS 9 - Classification and Measurement
EFRAG has published its Final Comment Letter ('FCL') in response to the IASB request for information as a part of the Post-implementation Review ('PIR') of the classification and measurement requirements of IFRS 9 Financial Instruments.
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27/01/2022 - EFRAG Comment Letter on ED/2021/3 Disclosure Requirements in IFRS Standards - A Pilot Approach
EFRAG has published its comment letter on ED/2021/3 Disclosure Requirements in IFRS Standards - A Pilot Approach (Proposed Amendments to IFRS 13 and IAS 19) (‘The ED’).
The comment letter can be found here.A summary of the findings from the extensive outreach conducted by EFRAG is provided in the Annex to the Comment Letter. -
21/01/2022 - EFRAG's Draft Comment Letter on the IASB's ED/2021/9 Non-Current Liabilities with Covenants
EFRAG has published its Draft Comment Letter in response to the IASB's Exposure Draft 2021/9 IAS 1 Non-Current Liabilities with Covenants (ED). Comments can be submitted until 9 March 2022.
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18/01/2022 - EFRAG draft comment letter on Supplier Finance Arrangements
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2021/10 Supplier Finance Arrangements and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 9 March 2022.
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12/01/2022 - EFRAG extends the deadline for its survey: Would you prefer less disclosures for subsidiaries?
EFRAG is inviting preparers of financial statements (parents and subsidiaries) to participate in a survey on the IASB Exposure Draft Subsidiaries without Public Accountability: Disclosures. The deadline of this survey has now been extended to 20 January 2022.
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17/12/2021 - EFRAG’s feedback statement on the field testing of the IASB’s ED Disclosure Requirements in IFRS Standards - A Pilot Approach
EFRAG has issued a feedback statement that summarises the findings from the field testing conducted with preparers, on the proposals in the IASBs Exposure Draft ("ED") Disclosure Requirements in IFRS Standards& - Pilot Approach (Proposed amendments to IFRS 13 and IAS 19).
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10/12/2021 - REMINDER | Please provide input to EFRAG’s survey: Would you prefer less disclosures for subsidiaries?
EFRAG would like to remind preparers of financial statements (parents and subsidiaries) of the opportunity to participate in a survey on the IASB Exposure Draft Subsidiaries without Public Accountability published in July 2021.
Preparers are asked to complete the online survey for parents or subsidiaries by 7 January 2022.
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09/12/2021 - EFRAG Secretariat Briefing: An EU Perspective on the IASB’s proposed scope for Subsidiaries without Public Accountability
The EFRAG Secretariat has issued a Briefing to stimulate debate within Europe and clarify the IASB's discussions on Subsidiaries without Public Accountability: Disclosures. The views expressed in this Briefing are tentative and reflect the EFRAG Secretariat's understanding of how the IASB's proposals might be applied in the EU. More specifically, the Briefing provides an EU Perspective on the IASB's proposed scope.
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03/12/2021 - EFRAG's Final Comment Letter on ED/2021/6 Management Commentary
EFRAG has published its Final Comment Letter in response to the IASB's exposure draft Management Commentary.
EFRAG's Final Comment Letter can be found here.
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01/12/2021 - EFRAG’S Endorsement Advice on Deferred Tax Related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12)
EFRAG has completed its due process regarding Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12) and has submitted its Endorsement Advice Letter to the European Commission.
The Endorsement Advice Letter to the European Commission can be found here. -
23/11/2021 - EFRAG's Feedback Statement on the IASB Discussion Paper DP/2020/2 Business Combinations under Common Control
EFRAG has published its Feedback Statement related to its Comment Letter on the IASB Discussion Paper DP/2020/2 Business Combinations under Common Control.
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22/11/2021 - Proposed Due Process Procedures for EU Sustainability Reporting Standard Setting– Summary of the comments received
Following the public consultation on the Proposed Due Process Procedures for EU Sustainability Reporting Standard Setting, EFRAG publishes today an aggregation of the comments received in a summary report together with messages from the EFRAG Board President, Jean-Paul Gauzès, addressing the due process during the interim work, the transition to the new governance structure, the due process of EFRAG’s financial reporting pillar and the cooperation with global sustainability reporting standard setters and initiatives.
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17/11/2021 - EFRAG's Feedback Statement on the IASB's Exposure Draft ED/2021/8 Initial Application of IFRS 17 and IFRS 9 - Comparative Information (Proposed amendment to IFRS 17)
EFRAG has published its Feedback Statement related to its Final Comment Letter on the IASB Exposure Draft ED/2/2021/8 Initial Application of IFRS 17 and IFRS 9 - Comparative Information (Proposed amendment to IFRS 17).
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16/11/2021 - PTF-ESRS: On track to meet ambitious timeline, five months into the drafting of European sustainability reporting standards (ESRS)
Following the request from the European Commission to start technical work building on the recommendations of the PTF-NFRS, EFRAG is making substantial progress in developing draft European sustainability reporting standards, while reforming its governance structure. Read the full status report here.
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08/11/2021 - EFRAG’s Draft Comment Letter in response to the IASB Request for Information on the Post-implementation Review of IFRS 9 - Classification and Measurement
EFRAG has published its Draft Comment Letter (DCL) in response to the IASB request for information as a part of the Post-implementation Review (‘PIR’) of the classification and measurement requirements of IFRS 9 Financial Instruments and seeks constituents' views on how the IFRS 9 is working in practice.
Comments on the Draft Comment Letter are requested by 14 January 2022. -
08/11/2021 - EFRAG survey: would you prefer less disclosures for subsidiaries?
EFRAG is inviting preparers of financial statements (parents and subsidiaries) to participate in a survey on the IASB Exposure Draft Subsidiaries without Public Accountability: Disclosures published in July 2021. Preparers are asked to complete an online survey for parents and subsidiaries by 7 January 2022.
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05/11/2021 - Appointed – Members of the Expert Working Groups to provide input on the drafting of European sustainability reporting standards
Announcement of the composition of the eleven Expert Working Groups (EWGs) with expertise and experience on sustainability matters, to provide input for the development of draft European sustainability reporting standards. See full press release.
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02/11/2021 - EFRAG's Feedback Statement on IASB ED Lack of Exchangeability
EFRAG releases its Feedback Statement related to its Final Comment Letter on the IASB Exposure Draft 2021/04 Lack of Exchangeability.
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26/10/2021 - EFRAG PODCAST – How can technology help improve sustainability reporting?
Listen to the latest EFRAG podcast related to the European Lab Project Task Force on the reporting of non-financial risks and opportunities and the linkage to the business model (PTF-RNFRO) report: Towards Sustainable Businesses: Good Practices in Business Model, Risks and Opportunities Reporting in the EU and Supplementary Document: Good Reporting Practices. This third and final episode on the report highlights the current and potential role of technology in sustainability reporting.
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19/10/2021 - EFRAG PODCAST - Good practices in reporting the business model, sustainability risks and opportunities 2/3
Listen to the EFRAG podcast providing insights on the identified good reporting practices listed by the European Lab Project Task Force on the reporting of non-financial risks and opportunities and the linkage to the business model (PTF-RNFRO) in its report: Towards Sustainable Businesses: Good Practices for Business Model, Risk and Opportunities, Reporting in the EU and Supplementary Document: Good Reporting Practices.
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12/10/2021 - EFRAG PODCAST - Good practices in reporting the business model, sustainability risks and opportunities
Listen to the latest EFRAG podcast , providing insights on the European Lab Project Task Force on the reporting of non-financial risks and opportunities and the linkage to the business model (PTF-RNFRO) report : Towards Sustainable Businesses: Good Practices for Business Model, Risk and Opportunities, Reporting in the EU and Supplementary Document: Good Reporting Practices, published on 4 October 2021.
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11/10/2021 - EFRAG Final Comment Letter on the IASB Agenda Consultation
EFRAG has published its Comment Letter on the IASB's Third Agenda Consultation Request for Information. It provides EFRAG's views on the projects the IASB should prioritise in its work plan for 2022 to 2026.
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11/10/2021 - EFRAG's Feedback Statement on Regulatory Assets and Regulatory Liabilities
The Feedback Statement summarises the main comments received by EFRAG on its Draft Comment Letter and effects analysis outreach on the IASB Exposure Draft 2021/01 Regulatory Assets and Regulatory Liabilities and explains how EFRAG considered the comments during its technical discussions leading to its Final Comment Letter. The Feedback Statement is available here.
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11/10/2021 - EFRAG's comment letter on the IASB's Discussion Paper DP/2020/2 Business Combinations under Common Control
EFRAG has published its comment letter in response to the IASB's Discussion Paper DP/2020/2 Business Combinations under Common Control. EFRAG welcomes the IASB's Discussion Paper and the IASB efforts to explore possible reporting requirements for business combinations under common control that would reduce diversity in practice and provide more relevant and comparable information.
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11/10/2021 - EFRAG PTF ESRS Expert Working Groups - Large number of applications received
EFRAG received an unprecedently large number of applications in response to the call for candidates for the expert working groups to provide input on the drafting of sustainability reporting standards.
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08/10/2021 - EFRAG's final comment letter on the IASB's Exposure Draft ED/2021/8 Initial Application of IFRS 17 and IFRS 9 - Comparative Information (Proposed amendment to IFRS 17)
EFRAG has published its final comment letter in response to the IASB's Exposure Draft ED/2021/8 Initial Application of IFRS 17 and IFRS 9 - Comparative Information (Proposed amendment to IFRS 17).
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04/10/2021 - Insights on Reporting the Business Model, Sustainability Risks and Opportunities
The European Lab@EFRAG Project Task Force on the reporting of non-financial risks and opportunities and linkage to the business model (PTF RNFRO) is pleased to issue its Report: ‘Towards Sustainable Businesses: Good Practices in Business Model, Risks and Opportunities Reporting in the EU’ and supporting 'Supplementary Document: Good Reporting Practices'.
The PTF-RNFRO deliverables aim to help companies benchmark and improve their current reporting practices.
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30/09/2021 - EFRAG's Draft Comment Letter on the IASB ED Subsidiaries without Public Accountability: Disclosures
EFRAG has published its Draft Comment Letter in response to the IASB's Exposure Draft 2021/7 Subsidiaries without Public Accountability: Disclosures. In the ED, the IASB proposes that eligible subsidiaries can provide reduced disclosure requirements together with the recognition, measurement and presentation requirements in IFRS Standards.
EFRAG seeks constituents' views on the proposals. Comments on the Draft Comment Letter are requested by 26 January 2022.
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24/09/2021 - EFRAG - PTF ESRS Cluster 2: Climate standard prototype - Basis for Conclusions working paper
Following EFRAG's announcement on 8 September 2021, the Basis for Conclusions working paper, supporting the Climate standard prototype working paper, is now available.
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14/09/2021 - EFRAG Final Comment Letter on Lack of Exchangeability
EFRAG has published its Comment Letter on the IASB Exposure Draft ED/2021/4 Lack of Exchangeability. EFRAG welcomes the IASB’s efforts to address a long-standing gap in current IFRS reporting.
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10/09/2021 - EFRAG Final Comment Letter on Regulatory Assets and Regulatory Liabilities
EFRAG has published its Final Comment Letter on the IASB Exposure Draft ED/2021/1 Regulatory Assets and Regulatory Liabilities. EFRAG welcomes the IASB’s efforts to address a long-standing gap in current IFRS reporting for entities subject to rate regulation.
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09/09/2021 - Deadline approaching - Apply now for the Expert Working Groups to provide input on the drafting of sustainability reporting standards
High level candidates sought for setting up expert working groups with expertise and experience on sustainability matters, to provide input for the development of draft European sustainability reporting standards. Deadline for applications is 15 September 2021. Read the complete call for candidates here.
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08/09/2021 - EFRAG PTF-ESRS welcomes 'Climate standard prototype' working paper
EFRAG PTF-ESRS welcomes 'Climate standard prototype' working paper.
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08/09/2021 - EFRAG and Shift: milestone statement of cooperation
Pursuing its work towards international sustainability reporting convergence, EFRAG Project Task Force on European sustainability reporting standards (PTF-ESRS) signed a milestone Statement of Cooperation with Shift. Read the detailed press release here.
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30/08/2021 - REMINDER | EFRAG Public Consultation – Due Process Procedures on EU Sustainability Reporting Standard-setting – Deadline: 15 September 2021
EFRAG is consulting on proposed Due Process Procedures stipulating the requirements to be followed in its role as technical advisor to the European Commission in the preparation of draft European Sustainability Reporting Standards (ESRS) or draft amendments of ESRS.
Comments, on all aspects of the proposals, are expected no later than 15 September 2021 and should be sent to the following email address: ESRSdueprocess@EFRAG.org. -
27/08/2021 - REMINDER | Invitation to participate in EFRAG's field-test on ED/2021/3 Disclosure Requirements in IFRS Standards (Proposed amendments to IFRS 13 and IAS 19)
EFRAG, in close coordination with EFRAG Member Organisations and other European National Standard Setters and the IASB, is conducting field-testing of the proposals in the IASB's exposure Draft Disclosure Requirements in IFRS Standards (Proposed amendments to IFRS 13 and IAS 19).
Field testing has started and will be carried out until 25 October 2021. Companies can still indicate their interest in participating in the field test by sending an email to Disclosureinitiative-pilot@efrag.org until 10 September 2021.
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27/08/2021 - EFRAG Discussion Paper: Better information on intangibles – which is the best way to go?
EFRAG has published a Discussion Paper on different possible approaches for better information on intangibles. EFRAG is asking constituents whether preparers can provide better information on intangibles, and if so, how. Comments are welcome by 30 June 2022.
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25/08/2021 - Experts called for working groups to provide input on the drafting of sustainability reporting standards
High level candidates sought for setting up expert working groups with expertise and experience on sustainability matters, to provide input for the development of draft European sustainability reporting standards
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20/08/2021 - REMINDER - EFRAG requests comments on its DCL on Lack of Exchangeability ED by 26 August
EFRAG requests constituents’ comments to its Draft Comment Letter on the IASB ED Lack of Exchangeability (Amendments to IAS 21) by Thursday 26 August 2021.
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05/08/2021 - EFRAG's Draft comment letter on the IASB Exposure Draft Initial Application of IFRS 17 and IFRS 9 - Comparative Information (Proposed amendment to IFRS 17)
EFRAG has published its Draft Comment Letter in response to the IASB's Exposure Draft Initial Application of IFRS 17 and IFRS 9 - Comparative Information (Proposed amendment to IFRS 17) and seeks constituents' views on the proposals. Comments are requested by 15 September 2021. The Draft Comment Letter is available here.
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28/07/2021 - EFRAG is consulting on its Draft Comment Letter in response to the IFRS Practice Statement Exposure Draft ED/2021/6 Management Commentary
EFRAG has published its Draft Comment Letter in response to the IFRS Practice Statement Exposure Draft ED/2021/6 Management Commentary (the 'ED') and seeks constituents' views on the proposals.
Comments on the Draft Comment Letter are requested by 15 November 2021, by close of business. The draft comment letter can be found here.
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27/07/2021 - EFRAG- Podcast - IASB’s future agenda and EFRAG’s proactive research agenda
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20/07/2021 - REMINDER - EFRAG requests comments on its end-of-July-deadline consultation documents.
EFRAG kindly requests constituents’ comments to its consultation documents on IASB projects on rate-regulated activities and business combination under common control and EFRAG research project on crypto-assets. These documents have forthcoming end-of-July deadlines.
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16/07/2021 - Reminder - Effects Analysis: EFRAG seeks input of users that analyse rate-regulated entities - please provide input by 30 July 2021
EFRAG is inviting users that analyse the financial statements of rate-regulated entities to participate in an effects analysis of the proposed Standard in the IASB Exposure Draft Regulatory Assets and Regulatory Liabilities published in January 2021. Users are asked to complete an online survey by 30 July 2021.
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16/07/2021 - Reminder - Effects analysis: EFRAG seeks input of rate-regulated entities preparers - please provide input by 30 July 2021
EFRAG is inviting preparers of financial statements of rate-regulated entities to participate in an effects analysis of the proposed Standard in the IASB Exposure Draft Regulatory Assets and Regulatory Liabilities published in January 2021. Preparers are asked to complete an online survey by 30 July 2021.
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14/07/2021 - Send your comments on EFRAG’s Discussion Paper: Accounting for crypto-assets (Liabilities)
EFRAG's Discussion Paper on Accounting for Crypto-Assets (Liabilities) (DP) - whose feedback will inform the ongoing IASB agenda consultation is open for consultation until 31 July 2021.
Stakeholders can provide feedback by either completing the survey (available here) or by sending a comment letter to the discussion paper.
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14/07/2021 - EFRAG seeks comments on its draft endorsement advice on Amendments to IAS 12
EFRAG is consulting on both its assessment of Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12) (‘the Amendments’) against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 30 September 2021.
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08/07/2021 - EFRAG & GRI landmark Statement of Cooperation
Working towards international sustainability reporting convergence, EFRAG Project Task Force on European sustainability reporting standards (PTF-ESRS) and GRI sign landmark Statement of Cooperation. Read the detailed press release here.
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08/07/2021 - EFRAG invited to contribute immediately to the elaboration of draft EU sustainability reporting standards (ESRS)
Committed to the ambitious timeline for a major step in quality sustainability reporting, EFRAG has successfully initiated the elaboration of EU sustainability reporting standards to be submitted to the European Commission. Read the detailed press release. -
08/07/2021 - EFRAG's Endorsement Advice on Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2)
EFRAG has completed its due process regarding Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2) and has submitted its Endorsement Advice Letter to the European Commission.
The Endorsement Advice Letter to the European Commission can be found here.
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08/07/2021 - EFRAG's Endorsement Advice on Definition of Accounting Estimates (Amendments to IAS 8)
EFRAG has completed its due process regarding Definition of Accounting Estimates (Amendments to IAS 8) and has submitted its Endorsement Advice Letter to the European Commission.
The Endorsement Advice Letter to the European Commission can be found here.
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29/06/2021 - EFRAG extends the deadline to 20 July to express interest in participating in the field testing: New disclosure approach for IAS 19 and IFRS 13
EFRAG, in close coordination with the IASB, is conducting field-testing of the IASB's proposals included in the ED Disclosure Requirements in IFRS Standards—A Pilot Approach ED/2021/3 issued in March 2021. The purpose of the field testing is to identify potential implementation and application concerns of the proposed disclosures in IFRS 13 Fair Value Measurement and IAS 19 Employee benefits, to determine whether there is a need for additional guidance, and to estimate the effort and cost required to implement and apply the proposals.
Interested corporates, banks or insurers can register to partake in the field test by emailing disclosureinitiative-pilot@efrag.org by 20 July 2021. -
16/06/2021 - EFRAG public consultation: Due Process Procedures on EU Sustainability Reporting Standard-Setting
EFRAG Secretariat seeks comments from stakeholders on its Public Consultation Paper: EFRAG Due Process Procedures on EU Sustainability Reporting Standard-Setting. Comments are welcome by 15 September 2021.
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11/06/2021 - Effects analysis: EFRAG seeks participation of rate-regulated entities preparers
EFRAG is inviting preparers of financial statements of rate-regulated entities to participate in an effects analysis of the proposed Standard in the IASB Exposure Draft Regulatory Assets and Regulatory Liabilities published in January 2021. Preparers are asked to complete an online survey by 30 July 2021.
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11/06/2021 - Effects Analysis: EFRAG seeks participation of users that analyse rate-regulated entities
EFRAG is inviting users that analyse the financial statements of rate-regulated entities to participate in an effects analysis of the proposed Standard in the IASB Exposure Draft Regulatory Assets and Regulatory Liabilities published in January 2021. Users are asked to complete an online survey by 30 July 2021.
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04/06/2021 - Your input wanted on the EFRAG survey relating to the IASB's future agenda and EFRAG's proactive research agenda
EFRAG encourages constituents to participate in a survey about the IASB's Third Agenda Consultation and EFRAG's Proactive Research Agenda. Responses are requested by 17 September 2021.
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03/06/2021 - EFRAG's Draft Comment Letter on the IASB Exposure Draft ED/2021/4 Lack of Exchangeability (proposed amendments to IAS 21)
EFRAG has published its Draft Comment Letter in response to the IASB's Exposure Draft ED/2021/4 Lack of Exchangeability (proposed amendments to IAS 21) and seeks constituents' views on the proposals. Comments are requested by 26 August 2021.
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02/06/2021 - EFRAG's response to the IASB's Request for Information on Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12
EFRAG has submitted its response to the IASB's Request for Information on Post-implementation Review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements, and IFRS 12 Disclosure of Interests in Other Entities (the PIR). The response is available here.
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02/06/2021 - EFRAG Secretariat Briefing: Regulatory Assets and Regulatory Liabilities
EFRAG Secretariat has issued a Briefing to stimulate debate on the outcome of the proposed requirements on scope included in the IASB's exposure draft Regulatory Assets and Regulatory Liabilities. The views expressed in this Briefing are tentative and reflect the EFRAG Secretariat’s understanding of how the proposals on scope of the exposure draft might be applied.
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28/05/2021 - EFRAG podcast on field testing the IASB ED Disclosure Requirements
EFRAG has released another podcast, this time on the topic of the field test run by EFRAG in cooperation with the IASB, on the IASB's ED on Disclosure Requirements in IFRS Standards - A Pilot Approach. Listen to the podcast providing insights on the importance and implications to participate in the EFRAG field test.
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20/05/2021 - EFRAG extends the deadline to 20 July 2021 to participate in the field testing: New disclosure approach for IAS 19 and IFRS 13
EFRAG, in close coordination with the IASB, is conducting field-testing of the IASB's proposals included in the ED Disclosure Requirements in IFRS Standards—A Pilot Approach ED/2021/3 issued in March 2021. The purpose of the field testing is to identify potential implementation and application concerns of the proposed disclosures in IFRS 13 Fair Value Measurement and IAS 19 Employee benefits, to determine whether there is a need for additional guidance, and to estimate the effort and cost required to implement and apply the proposals.
Interested corporates, banks or insurers can express interest and register to partake in the field test by emailing disclosureinitiative-pilot@efrag.org by 20 July 2021.
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20/05/2021 - EFRAG’s joint consultation on the IASB’s future agenda and on EFRAG’s proactive research agenda
EFRAG is issuing a joint consultation document seeking input on:
Its draft comment letter in response to the IASB’s request for information (RFI) on its agenda consultation; and
EFRAG’s own proactive research agenda.
By combining the two consultations, EFRAG expects that the priorities identified by European constituents will also inform the selection of EFRAG's own proactive research projects to be undertaken from 2022 onwards; in particular if projects considered to be high priorities are not selected by the IASB for its 2022-2026 work plan.
Stakeholders can provide inputs about project priorities by way of an online survey (the link to the online survey will be provided in a separate news items). The link to the online survey will be provided in a separate news items.
Comments are requested no later than 17 September 2021.
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20/05/2021 - Save the Date – ASCG outreach event on BCUCC with joint participation of EFRAG and the IASB
EFRAG Project Director Kathrin Schöne will participate in a web-based outreach event organised by the German Standard Setter (ASCG) on the IASB’s Discussion Paper Business Combinations under Common Control. The event will take place on 7 June and is jointly held with the IASB and EFRAG.
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12/05/2021 - EFRAG'S feedback statement on the IASB's Exposure Draft ED/2020/4 Lease Liability in a Sale and Leaseback
The feedback statement summarises the main comments received by EFRAG on its draft comment letter to the IASB Exposure Draft ED/2020/4 Lease Liability in a Sale and Leaseback. and explains how this considered by EFRAG during its technical discussions.
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11/05/2021 - EFRAG’s draft comment letter and invitation to participate in field-test on ED/2021/3 Disclosure Requirements in IFRS Standards (Extended deadlines)
EFRAG’s has published its draft comment letter on ED/2021/3 Disclosure Requirements in IFRS Standards—A Pilot Approach (Proposed amendments to IFRS 13 and IAS 19), seeks constituents' view on and invites preparers to participate in field testing the proposals . EFRAG, in close coordination with with EFRAG Member Organisations and other European National Standard Setters and the IASB, will conduct field-testing of the IASB's proposals.
Companies interested can already indicate their interest : Disclosureinitiative-pilot@efrag.org
At its July 2021 meeting, the IASB decided to exceptionally extend the comment period for its Exposure Draft Disclosure Requirements in IFRS Standards—A Pilot Approach (the 'ED') to 290 days until 12 January 2022. Consequently, EFRAG is:
- Extending its period to conduct its field-testing with preparers until 25 October 2021. Interested corporates, banks or insurers can register to partake in the field test by emailing disclosureinitiative-pilot@efrag.org by 10 September 2021.
- Extending the comment period of its Draft Comment Letter until 4 January 2022. The draft comment letter can be found here.
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21/04/2021 - EFRAG welcomes its role in the European Commission’s proposal for a new CSRD
The European Commission’s proposal for a Corporate Sustainability Reporting Directive (CSRD) envisages the adoption of EU sustainability reporting standards. The draft standards would be developed by EFRAG. The standards will be tailored to EU policies, while building on and contributing to international standardisation initiatives.
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14/04/2021 - Accounting for Crypto-Assets (Liabilities): EFRAG Discussion Paper now discussed in podcasts
Crypto-assets represent a growing and rapidly evolving market. To address the accounting of these unique assets, EFRAG released a Discussion Paper Accounting for Crypto-Assets (Liabilities) (DP) addressing the main issues related to the topic. You can now listen to the EFRAG podcast series with three episodes in which EFRAG Secretariat and experts discuss the issues addressed in the DP and related topics.
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12/04/2021 - EFRAG draft comment letter on Rate-regulated Activities
EFRAG has published its draft comment letter on the IASB Exposure Draft ED/2021/1 Regulatory Assets and Regulatory Liabilities and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 28 July 2021.
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09/04/2021 - REMINDER | Complete EFRAG’s survey on the PIR of IFRS 10, 11 and 12 by 16 April
Constituents, in particular users of financial statements, are welcome to contribute to the post-implementation review (PIR) of the Consolidation Package, under international financial reporting standards. Participate in the EFRAG survey about the PIR IFRS 10, 11 and 12 by 16 April 2021.
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09/04/2021 - EFRAG's Final Comment Letter on ED/2020/4 Lease Liability in a Sale and Leaseback
EFRAG published its comment letter (here) in response to the IASB's Exposure Draft ED/2020/4 Lease Liability in a Sale and Leaseback ('the ED') on 9 April 2021.
The ED specifies how a seller-lessee initially measures the right-of-use asset and liability arising in a sale and leaseback transaction (including when rents are variable and not based on an index or rate) and how the seller-lessee subsequently measures that liability.
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02/04/2021 - EFRAG's Endorsement Advice on Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to IFRS 16)
EFRAG has completed its due process regarding Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to IFRS 16) and has submitted its Endorsement Advice Letter to the European Commission.
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02/04/2021 - Complete EFRAG’s survey relating to its DP: Accounting for Crypto-Assets (Liabilities), contribute to the debate!
EFRAG invites its constituents to complete the survey (available here) relating to its Discussion Paper on Accounting for Crypto-Assets (Liabilities) (DP). Crypto-assets, a by-product of innovation in technology and finance (see background article), continue to draw stakeholders' interest. Accordingly, in July 2020, EFRAG published its DP - developed as part of the EFRAG proactive research agenda. The DP is intended to inform the forthcoming IASB agenda consultation process and is open for consultation until 31 July 2021.
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31/03/2021 - EFRAG has finalised its due process around IFRS 17 and has submitted its Final Endorsement Advice on IFRS 17 Insurance Contracts including the June 2020 Amendments to the European Commission
EFRAG has finalised its due process around IFRS 17 and submitted its Final Endorsement Advice on IFRS 17 Insurance Contracts including the June 2020 Amendments to the European Commission. The Final Endorsement Advice includes the assessment of IFRS 17 against the ‘True and Fair View’-criteria and the assessment of whether IFRS 17 is conducive to the European public good.
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26/03/2021 - Listen to the final episode of the EFRAG podcast series: PIR of IFRS 10, IFRS 11 and IFRS 12
Reaching out to stakeholders, EFRAG releases today the final podcast of its four-episode series dedicated to the post-implementation review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities. Listen to this final episode now and participate in EFRAG’s survey.
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26/03/2021 - EFRAG meets with international sustainability reporting standard setters and other related initiatives
EFRAG and the European Commission met for a second time with leading international sustainability reporting standard setters and other related initiatives to present recommendations for the development of EU sustainability reporting standards and explore possible cooperation in a co-constructive spirit, promoting convergence and maintaining momentum.
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15/03/2021 - EFRAG requests comments on its draft endorsement advice on Definition of Accounting Estimates
EFRAG is consulting on both its assessment of Definition of Accounting Estimates (Amendments to IAS 8) (‘the Amendments’) against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 7 June 2021.
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15/03/2021 - EFRAG requests comments on its draft endorsement advice on Disclosure of Accounting Policies
EFRAG is consulting on both its assessment of Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2) (‘the Amendments’) against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 7 June 2021.
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10/03/2021 - Listen to the 3rd episode of the EFRAG podcast series: PIR of IFRS 10, IFRS 11 and IFRS 12
Reaching out to stakeholers, EFRAG releases today its third episode, out of a series of four podcasts, dedicated to the post-implementation review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities. Listen to our third episode now and participate in EFRAG’s survey.
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08/03/2021 - Reports published on development of EU sustainability reporting standards
Two reports are published today, prepared in response to the mandates given by the European Commission on 25 June 2020 to EFRAG and to EFRAG Board President Jean-Paul Gauzès. The reports set out recommendations to the European Commission for the elaboration of possible EU sustainability reporting standards and for possible changes to EFRAG's governance and funding if it were to become the EU sustainability reporting standard setter.
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03/03/2021 - Listen to the 2nd episode of the EFRAG podcast series: PIR of IFRS 10, IFRS 11 and IFRS 12
To reach out to stakeholders, EFRAG embarked on a series of podcasts presenting the post-implementation review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities. Listen to the second episode now and participate in EFRAG’s survey.
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02/03/2021 - University of Ferrara, EFFAS, EFRAG, ICAS joint case study-based survey on intangibles
Participate in a new research project conducted by the University of Ferrara and supported by EFFAS, EFRAG and ICAS on reporting practices for intangible assets by completing the related case-study-based survey. The research project aims at collecting information on the preparation and use of the information on intangibles.
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26/02/2021 - EFRAG's feedback statement on Business Combinations—Disclosures, Goodwill and Impairment
EFRAG has issued its feedback statement explaining how EFRAG considered the comments received in response to its draft comment letter on the IASB DP/2020/1 Business Combinations—Disclosures, Goodwill and Impairment. The feedback statement is available here.
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25/02/2021 - EFRAG Final Comment Letter on ED/2021/2 Covid-19-Related Rent Concessions beyond 30 June 2021
EFRAG has published its Final Comment Letter in response to the IASB's Exposure Draft ED/2021/2 Covid-19-Related Rent Concessions beyond 30 June 2021 (Proposed Amendments to IFRS 16).
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24/02/2021 - Listen now to the EFRAG podcast series: PIR of IFRS 10, IFRS 11 and IFRS 12
In order to reach out to stakeholders, EFRAG releases a series of podcasts presenting the post-implementation review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities. Listen to the first episode now, and participate in EFRAG’s survey.
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22/02/2021 - Extended Deadline - EFRAG's Draft Comment Letter on ED Lease Liability in a Sale and Leaseback - 23 March 2021.
EFRAG published its Draft Comment Letter in response to the IASB's Exposure Draft ED/2020/4 Lease Liability in a Sale and Leaseback on 22 December 2020.
To allow more time for interested stakeholders to provide their views, responses are now requested by 23 March 2021.
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16/02/2021 - EFRAG requests comments on Preparatory Document for Draft Endorsement Advice on Covid-19-Related Rent Concessions beyond 30 June 2021
EFRAG is consulting on its Preparatory Document for Draft Endorsement Advice of Covid-19-Related Rent Concessions beyond 30 June 2021 against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 17 March 2021.
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11/02/2021 - EFRAG Draft Comment Letter on IFRS 16 and Covid-19- Comments requested by 22 February 2021
EFRAG has published its Draft Comment Letter in response to the IASB's Exposure Draft ED/2021/2 Covid-19-Related Rent Concessions Beyond 30 June 2021 (Proposed Amendments to IFRS 16). Comments requested by 22 February 2021.
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01/02/2021 - NEW DEADLINE | Participate in the European Lab @ EFRAG survey on non-financial risks and opportunities reporting practices
The European Lab @EFRAG Project Task Force on Reporting of Non-Financial Risks and Opportunities and linkage to the business model (PTF-RNFRO) seeks stakeholders’ views on factors influencing current reporting practices. This includes not only views from preparers and users but also other stakeholders such as accountants, auditors, academics and NGOs. The survey deadline has been extended to 20 February 2021.
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29/01/2021 - EFRAG Comment Letter on Business Combinations – Disclosures, Goodwill and Impairment
EFRAG has published its final comment letter in response to the IASB's Discussion Paper DP 2020/1 Business Combinations – Disclosures, Goodwill and Impairment. In the letter, which benefits from the results of the extensive outreach conducted with European stakeholders, EFRAG supports the objective to explore whether companies can, at a reasonable cost provide investors with more useful information about acquisitions and address some practical aspects from such requirements. EFRAG notes room for improvement in goodwill accounting. Considering that an accounting policy should only be changed if it would provide reliable and more relevant information, EFRAG suggests the IASB further explore improvements to existing impairment test and any cost and consequences of reintroducing amortisation.
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28/01/2021 - RECORDINGS NOW AVAILABLE | European Lab online outreach events 13 to 22 January – Preparatory work on EU non-financial reporting standards
Between 13 and 22 January 2021, the Project Task Force on preparatory work for the elaboration of possible EU non-financial reporting standards (PTF-NFRS) of the European Lab @EFRAG held seven joint online outreach events. The objective of these events was to gather stakeholders’ views from different countries on the tentative proposals of the PTF-NFRS to the European Commission. The events' recordings are now available.
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22/01/2021 - Your input wanted on the EFRAG survey relating to the Post-Implementation Review of IFRS 10, 11 and 12
EFRAG encourages constituents to participate in its survey about the Post-Implementation Review of IFRS 10, 11 and 12. Responses are requested by 16 April 2021.
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19/01/2021 - Stakeholders’ views sought on non-financial risks and opportunities reporting practices
The European Lab @EFRAG Project Task Force on Reporting of Non-Financial Risks and Opportunities and linkage to the business model (PTF-RNFRO) seeks stakeholders’ views on factors influencing current reporting practices. Stakeholders’ feedback will help the PTF-RNFRO to contextualise the assessment of what can be considered as good reporting practices on risks and opportunities and the business model. The survey is open until end of January 2021.
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12/01/2021 - Reminder: IFRS 17 Draft Endorsement Advice - please provide input by 29 January 2021
EFRAG asks constituents to provide their views on the EFRAG draft endorsement advice on IFRS 17 Insurance contracts by Friday, 29 January 2021. Please submit your comment letter here by clicking the 'Comment publication' link. -
11/01/2021 - OUTREACH DOCUMENT NOW AVAILABLE| European Lab online outreach events - Preparatory work on EU non-financial reporting standards - 13 to 22 January 2021
The Project Task Force on preparatory work for the elaboration of possible EU non-financial reporting standards of the European Lab @EFRAG is sharing an outreach document containing its key preliminary views emerging from the Task Force's ongoing work. The outreach document will provide the basis for gathering stakeholders’ views at seven online outreach events scheduled between 13 and 22 January 2021. Register now.
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05/01/2021 - Extension of the deadline to contribute to Jean-Paul Gauzès’ Ad personam mandate on non-financial reporting standard setting – 13 January 2021
On 30 November 2020, EFRAG Board President Jean-Paul Gauzès issued a Consultation Document inviting all interested stakeholders to provide input to his preliminary proposals regarding changes to the governance structure and financing of EFRAG if it were entrusted with the development of possible EU non-financial reporting standards.
The Consultation Document (which contains a number of questions for stakeholders) focuses on obtaining additional input on a number of matters that were not, or not fully addressed in the first public consultation conducted in October 2020.
To allow more time for interested stakeholders to provide their views, responses to this Consultation Document are now requested by 13 January 2021.
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17/12/2020 - SAVE THE DATE | European Lab @EFRAG joint outreach events – Preparatory work on EU non-financial reporting standards – 13 to 22 January 2021
The Project Task Force on non-financial reporting standards (PTF-NFRS) of the European Lab @EFRAG invites you to a series of joint online outreach events scheduled between 13 and 22 January 2021. These online events will be the occasion to gather stakeholders’ views from different countries on the tentative proposals of the PTF-NFRS. Each event has a different focus. Register now.
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08/12/2020 - EXTENSION - EFRAG seeks views on its Draft Endorsement Advice on Classification of Liabilities as Current or Non-Current and Deferral of Effective Date (Amendments to IAS 1) - 11 January 2021
EFRAG is consulting on both its assessment of Classification of Liabilities as Current or Non-current and Deferral of Effective Date (Amendments to IAS 1) (‘the Amendments’) against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments (Amendments to IAS1 - Deferral of Effective Date) are requested by 11 January 2021.
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08/12/2020 - EXTENSION - Views of users of financial statements of rate-regulated entities - Please provide input by 8 January 2021
EFRAG is inviting users that undertake the fundamental analysis of rate-regulated entities to participate in an early-stage analysis of the likely impacts of possible changes to IFRS requirements. This will enable a better understanding of users' information needs. Users are asked to complete a survey by filling in a questionnaire by close of business 8 January 2021.
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02/12/2020 - REMINDER - EFRAG seeks views on its Draft Endorsement Advice on Classification of Liabilities as Current or Non-Current and Deferral of Effective Date (Amendments to IAS 1) by 7 December 2020
EFRAG is consulting on both its assessment of Classification of Liabilities as Current or Non-current and Deferral of Effective Date (Amendments to IAS 1) (‘the Amendments’) against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments (Amendments to IAS 1 - Deferral of Effective Date) are requested by 7 December 2020.
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02/12/2020 - REMINDER - Views of preparers of financial statements of rate-regulated entities - Please provide input by 8 January 2021
EFRAG is inviting preparers of financial statements of rate-regulated entities to participate in an early-stage analysis through a survey questionnaire which will take approximately 30-45 minutes to complete of likely impacts of the possible changes to IFRS requirements. Preparers are asked to complete a survey by filling in a questionnaire by close of business 8 January 2021.
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30/11/2020 - REMINDER - Views of users of financial statements of rate-regulated entities - Please provide input by 7 December 2020
EFRAG is inviting users that undertake the fundamental analysis of rate-regulated entities to participate in an early-stage analysis of the likely impacts of possible changes to IFRS requirements. This will enable a better understanding of users' information needs. Users are asked to complete a survey by filling in a questionnaire by close of business 7 December 2020.
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30/11/2020 - Jean-Paul Gauzès is seeking input on his preliminary proposals resulting from his EC ad personam mandate on non-financial reporting standard setting.
EFRAG Board President Jean-Paul Gauzès is issuing a Consultation Document inviting all interested stakeholders to contribute input to his preliminary proposals regarding changes to the governance structure and financing of EFRAG if the latter were entrusted with the development of EU non-financial reporting standards.
The Consultation Document (which contains a number of questions for stakeholders) focuses on obtaining additional input on a number of matters that were not, or not fully addressed in the first public consultation conducted in October 2020.
Responses to this second consultation are requested by 6 January 2021.
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30/11/2020 - EFRAG's Feedback Statement on Primary Financial Statements
The feedback statement summarises the main comments received by EFRAG on its draft comment letter to the IASB ED/2019/7 General Presentation and Disclosures and explains how those comments were considered by EFRAG during its technical discussions leading to the publication of EFRAG’s final comment letter. The feedback statement is available here.
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20/11/2020 - Reminder: Business Combinations - Disclosures, Goodwill and Impairment - Please provide input by 30 November 2020
EFRAG asks constituents to provide their views on the EFRAG draft comment letter in response to the IASB's Discussion Paper DP/2020/1 Business Combinations — Disclosures, Goodwill and Impairment by Monday, 30 November 2020. Please submit your comment letter here.
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17/11/2020 - EFRAG's Feedback Statement on its Comment Letter to the IASB's Exposure Draft ED/2020/1 Interest Rate Benchmark Reform - Phase 2
After having issued its final endorsement advice on 26 October EFRAG has finalised the steps in its due process and published its feedback statement on the draft comment letter to the IASB's ED/2020/1 Interest Rate Benchmark Reform – Phase 2: Proposed Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16
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13/11/2020 - Progress report published for project on preparatory work for the elaboration of possible EU non-financial reporting standards
Preliminary high-level assessment points emerging from the assessment phase of the project have been submitted to the European Commission.
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10/11/2020 - EFRAG seeks input from preparers of financial statements of rate-regulated entities by 18 December 2020
The IASB has an active project on the accounting for regulatory assets and regulatory liabilities. The objective is to improve the information that is available to users covering rate-regulated entities. These entities may have incremental rights and obligations arising from their regulatory agreements. The IASB will be issuing an exposure draft in early 2021.
EFRAG is inviting preparers of financial statements of rate-regulated entities to participate in an early-stage analysis through a survey questionnaire which will take approximately 30-45 minutes to complete of likely impacts of the possible changes to IFRS requirements. Expressions of interest in participating in this outreach are requested by close of business 18 December 2020.
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06/11/2020 - EFRAG requests comments on its draft endorsement advice on Classification of Liabilities as Current or Non-current and Deferral of Effective Date (Amendments to IAS 1)
EFRAG is consulting on both its assessment of Classification of Liabilities as Current or Non-current and Deferral of Effective Date (Amendments to IAS 1) (‘the Amendments’) against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 7 December 2020.
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02/11/2020 - EFRAG Final Comment Letter on Primary Financial Statements
EFRAG has published its final comment letter in response to the IASB's Exposure Draft 2019/7 General Presentation and Disclosures which welcomes the IASB's efforts to improve how information is communicated in the financial statements. In the letter, which benefits from the results of the extensive consultation and outreach conducted with European stakeholders, EFRAG suggests that the IASB further considers a number of its proposals, particularly from a cost and benefit perspective.
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28/10/2020 - EFRAG seeks views of users of the financial statements of rate-regulated entities by 7 December 2020
The IASB has an active project on the accounting for regulatory assets and regulatory liabilities. The objective is to improve the information that is available to users covering rate-regulated entities. These entities may have incremental rights and obligations arising from their regulatory agreements. The IASB will be issuing an exposure draft in early 2021.
EFRAG is inviting users that undertake the fundamental analysis of rate-regulated entities to participate in an early-stage analysis of the likely impacts of possible changes to IFRS requirements. This will enable a better understanding of users' information needs. Expressions of interest in participating in this outreach are requested by close of business 7 December 2020.
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01/10/2020 - Invitation to contribute to the ad personam mandate of EFRAG Board President Jean Paul Gauzès on non-financial reporting standard setting
EFRAG Board President Jean-Paul Gauzès invites all interested stakeholders to contribute views related to his ad personam mandate from the European Commission to develop proposals for possible changes to the governance and funding of EFRAG. These proposals will be subject to further public consultation.
Responses are requested by 30 October 2020.
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30/09/2020 - EFRAG requests comments on its Draft Endorsement Advice on IFRS 17 Insurance Contracts as resulting from the June 2020 Amendments
EFRAG is consulting on both its assessment of IFRS 17 against the technical criteria in the EU and on its assessment of whether IFRS 17 is conducive to the European public good. Comments are requested by 29 January 2021.
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26/09/2020 - EFRAG summary report of the Preparers Roundtable on 1 September 2020
EFRAG has issued a report that summarises the findings received from participants in its Preparers Roundtable on the IASB Exposure Draft General Presentation and Disclosures. In the workshop, which was undertaken jointly with Business Europe and the IASB on 1 September 2020, different preparers discussed potential implementation and application concerns, possible need for additional guidance on specific topics and the efforts required to implement and apply the IASB proposals.
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21/09/2020 - EFRAG summary report of the field-test workshop on 24 August 2020
EFRAG has issued a report that summarises the findings from the companies involved in the field-test on the IASB proposals in the Exposure Draft General Presentation and Disclosures. The workshop took place on 24 August 2020 - in close coordination with European National Standard Setters and the IASB, where different companies (corporate and financial institutions) discussed potential implementation and application concerns, whether there is a need for additional guidance and the efforts required to implement and apply the IASB proposals.
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14/09/2020 - EFRAG's Endorsement Advice on Interest Rate Benchmark Reform – Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16)
EFRAG has completed its due process regarding the IASB Amendments Interest Rate Benchmark Reform – Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) and has submitted its Endorsement Advice Letter to the European Commission.
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11/09/2020 - Your opinion matters – Questionnaire for preparers – How could accounting for goodwill be improved?
EFRAG launches a questionnaire/invitation for an interview for preparers with active M&A agendas or material goodwill amounts in the financial statements. The purpose is to collect input on the proposals in the Discussion Paper Business Combinations—Disclosures, Goodwill and Impairment and on EFRAG’s suggestions included in its draft comment letter. -
08/09/2020 - EFRAG summary report of the field-test workshop with financial institutions on 7 July 2020
EFRAG has issued a report that summarises the findings received from participants in its field-test on the IASB proposals in the Exposure Draft General Presentation and Disclosures. The workshop took place on 7 July 2020 - in close coordination with European National Standard Setters and the IASB, where different companies (financial institutions) discussed potential implementation and application concerns, whether there is a need for additional guidance and the efforts required to implement and apply the IASB proposals.
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28/08/2020 - EFRAG requests comments on its Draft Endorsement Advice on IBOR Phase 2 (amendments to IFRS 9, IAS 39, IFRS 7 and IFRS 16)
EFRAG is consulting on its assessments of Interest Rate Benchmark Reform – Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) against the technical criteria and whether the Amendments are conducive to the European public good. Comments are requested by 7 September 2020. EFRAG invites constituents to participate to a public outreach event on 7 September (16.30) to provide their comments.
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26/08/2020 - EFRAG summary report of the field-test workshop with corporates on 7 July 2020
EFRAG has issued a report that summarises the findings received from participants in its field-test on the IASB Exposure Draft General Presentation and Disclosures. The workshop was undertaken in close coordination with European National Standard Setters and the IASB on 7 July 2020 where different companies (corporates) discussed potential implementation and application concerns, whether there is a need for additional guidance and the efforts required to implement and apply the IASB proposals.
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04/08/2020 - Save the Date – ASCG outreach event on PFS with participation of EFRAG and the IASB
EFRAG Project Director Kathrin Schoene will take part in a public outreach event organised by the German Standard Setter (ASCG) on the IASB’s Exposure Draft General Presentation and Disclosures. The representatives from the IASB will participate in the 2 outreach events held on 7 and 11 September 2020.
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20/07/2020 - EFRAG's Discussion Paper on the accounting for crypto-assets (liabilities) - holder and issuer perspective
EFRAG has published a Discussion Paper to gather constituents' views on the accounting for crypto-assets (liabilities) from a holder and issuer perspective. Comments are welcome throughout a 12-month period from the date of issuance until 31 July 2021. Comments provided earlier during the consultation period will be welcome. The consultation period caters for constituents’ impacted priorities and any constraints faced due to the current pandemic. It also allows EFRAG sufficient time to obtain as much feedback as possible. -
25/06/2020 - EFRAG requests comments on its Draft Endorsement Advice on Annual Improvements to IFRS Standards 2018-2020
EFRAG is consulting on both its assessment of Annual Improvements to IFRS Standards 2018-2020 against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 7 September 2020.
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25/06/2020 - EFRAG requests comments on its Draft Endorsement Advice on Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16)
EFRAG is consulting on both its assessment of Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16) against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 7 September 2020.
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25/06/2020 - EFRAG requests comments on its DEA on Extension of the Temporary Exemption from Applying IFRS 9 (Amendments to IFRS 4)
EFRAG is consulting on both its assessment of the Amendments against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Highlighting that the entire endorsement process is urgent, EFRAG requests your comments by 3 July 2020. -
24/06/2020 - EFRAG requests comments on its Draft Endorsement Advice on Reference to the Conceptual Framework (Amendments to IFRS 3)
EFRAG is consulting on its assessment of Reference to the Conceptual Framework (Amendments to IFRS 3) against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 7 September 2020.
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24/06/2020 - EFRAG requests comments on its Draft Endorsement Advice on Onerous Contracts - Cost of Fulfilling a Contract (Amendments to IAS 37)
EFRAG is consulting on its assessment of Onerous Contracts - Cost of Fulfilling a Contract (Amendments to IAS 37) against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 7 September 2020.
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04/06/2020 - Second European Lab Project Task Force appointed
The European Lab Steering Group has appointed the Project Task Force for its second project on reporting of non-financial risks and opportunities and linkage to the business model
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03/06/2020 - EFRAG's Endorsement Advice on Covid-19-Related Rent Concessions (Amendment to IFRS 16)
EFRAG has completed its due process regarding Covid-19-Related Rent Concessions (Amendment to IFRS 16) and has submitted its Endorsement Advice Letter to the European Commission.
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03/06/2020 - EFRAG has published its Final Comment Letter in response to the IASB's ED Classification of Liabilities as Current or Non-current - Deferral of Effective Date
EFRAG has published its Final Comment Letter in response to the IASB's Exposure Draft ED/2020/3 Classification of Liabilities as Current or Non-current - Deferral of Effective Date (proposed amendments to IAS 1).
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29/05/2020 - EFRAG Draft Comment Letter on IASB DP 'Business Combinations — Disclosures, Goodwill and Impairment'
EFRAG has published its Draft Comment Letter in response to the IASB's Discussion Paper DP/2020/1 Business Combinations—Disclosures, Goodwill and Impairment. Comments on the draft comment letter are requested by 30 November 2020. -
27/05/2020 - EFRAG has published its Final Comment Letter in response to the IASB's ED Interest Rate Benchmark Reform – Phase 2
EFRAG has published its Final Comment Letter in response to the IASB's Exposure Draft ED/2020/1 Interest Rate Benchmark Reform – Phase 2 (proposed amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16).
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12/05/2020 - EFRAG's Final Comment Letter on the IASB's Exposure Draft ED/2020/2 Covid-19-Related Rent Concessions (Proposed amendment to IFRS 16)
EFRAG has published its Final Comment Letter in response to the IASB's Exposure Draft ED/2020/2 Covid-19-Related Rent Concessions (Proposed amendment to IFRS 16). The Final Comment Letter is available here.
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08/05/2020 - EFRAG's Draft Comment Letter on the IASB's ED/2020/3 Classification of Liabilities - Deferral of Effective Date - Proposed amendments to IAS 1
EFRAG has published its Draft Comment Letter in response to the IASB's Exposure Draft Classification of Liabilities - Deferral of Effective Date - Proposed amendments to IAS 1 and seeks constituents' views on the proposals. Comments on the Draft Comment Letter are requested by 25 May 2020.
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01/05/2020 - EFRAG draft comment letter and preparatory draft of the Endorsement Advice on IASB ED/2020/2 Covid-19-Related Rent Concessions (amendment to IFRS 16)
EFRAG has published a Draft Comment Letter and a preparatory draft of the Endorsement Advice on the IASB ED/2020/2 Covid-19-Related Rent Concessions (amendment to IFRS 16). Comments on the draft comment letter are requested by 7 May, and for the preparatory draft Endorsement Advice by 20 May.
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28/04/2020 - Feedback statement on EFRAG Discussion Paper Accounting for Pension Plans with an Asset-Return Promise
EFRAG has published a feedback statement on its Discussion Paper Accounting for Pension Plans with an Asset-Return Promise.
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27/04/2020 - EFRAG extends its consultation period on Primary Financial Statements
Recognising the impact of the COVID-19 pandemic, on 17 April 2020 the IASB decided to extend the consultation period of its Exposure Draft on General Presentation and Disclosures (ED) by approximately three months. EFRAG has adjusted its timelines accordingly, considering the priorities of its stakeholders during the current pandemic and extended the comment period for its Draft Comment Letter on the ED until 28 September 2020 and its period of field testing until 31 August 2020.
To collect input from the community of interested preparers that are unable to participate in EFRAG's field-tests under the present circumstances, EFRAG is planning an online event on 1 September 2020
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23/04/2020 - EFRAG's draft comment letter on the IASB's ED/2020/1 Interest Rate Benchmark Reform - Phase 2 (proposed amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16)
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2020/1 Interest Rate Benchmark Reform - Phase 2 (proposed amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 15 May 2020.
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08/04/2020 - EFRAG extends application deadline to 4 May 2020 for joining the new European Lab Project Task Force on reporting of non-financial risks and opportunities and linkage to the business model
The call for candidates to become members of the new European Lab Project Task Force on reporting of non-financial risks and opportunities and linkage to the business model is now extended to 4 May 2020. Applications should be sent to nominations@efrag.org.
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31/03/2020 - EFRAG's pre-consultation document on the IASB's forthcoming ED on IBOR Phase 2
In order to allow for additional consultation time, EFRAG publishes a pre-consultation document, in anticipation of the IASB's forthcoming Exposure Draft IBOR Phase 2 ('the ED'). EFRAG's draft comment letter will replace this pre-consultation document later in April. EFRAG seeks constituents' views on the proposals by 15 May 2020.
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13/03/2020 - EFRAG announces the composition of its Advisory Panel on Intangibles
EFRAG TEG has approved the composition of the EFRAG Advisory Panel on Intangibles. EFRAG welcomes Florian Bercault, Ian Bishop, Giorgio Calimani, Laure Chatillon, Alexandre Goncalves, Laurine Lemon, Gianluca Manca, Marietta Miemietz, Bertrand Perrin, Laurent Pieraerts, Jochem Quaak, Ivars Strautins, Jeremy Stuber, Ton van Ooijen, Jesús Valero and Hanno Wulbrand as members of the EFRAG Advisory Panel on Intangibles.
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13/03/2020 - Apply now to join the European Lab Project Task Force on reporting of non-financial risks and opportunities and linkage to the business model
Call for candidates to become members of the new European Lab Project Task Force on reporting of non-financial risks and opportunities and linkage to the business model. Applications should be sent to nominations@efrag.org by 10 April 2020. Expressions of interest are also sought for those who would like to participate in future outreach events of the new project. -
06/03/2020 - EFRAG invites companies to participate in the field-test on the IASB's project Primary Financial Statements
EFRAG, in close coordination with European National Standard Setters and the IASB, will conduct field-testing of the IASB's proposals included in the Exposure Draft ED/2019/7 General Presentation and Disclosures (ED), which were published in December 2019. The purpose of the field-testing is to identify potential implementation and application concerns, to determine whether there is a need for additional guidance, and to estimate the effort required to implement and apply the proposals.
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24/02/2020 - EFRAG draft comment letter on Primary Financial Statements
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft 2019/7 General Presentation and Disclosures and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 19 June 2020, by close of business.
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18/02/2020 - Reminder: EFRAG calls for candidates for an advisory panel on intangibles
The application deadline is 21 February 2020.
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05/02/2020 - Literature review on intangibles
EFRAG publishes a literature review on intangibles as part of its research project on better information on intangibles. -
30/01/2020 - EFRAG’s advice to the European Commission on the measurement of long-term investments in equity instruments
EFRAG publishes its advice to the European Commission on alternative accounting treatments to measurement at fair value through profit or loss for equity and equity-type instruments held in long-term investment business models.
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28/01/2020 - IFRS 17 Limited update of 2018 Case Studies
EFRAG is calling for expressions of interest from European insurance companies in participating in its limited update of the case studies relating to IFRS 17 Insurance Contracts. Expressions of interest should be submitted by close of business on Friday 28 February 2020.
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22/01/2020 - EFRAG's feedback statement on IASB Exposure Draft ED/2019/6 Disclosure of Accounting Policies.
EFRAG published its feedback statement on the IASB Exposure Draft ED/2019/6 Disclosure of Accounting Policies.
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21/01/2020 - EFRAG Advisory Panel on Intangibles: Call for candidates
How does an entity create, maintain and enhance value? What information about intangibles do investors need but cannot find in the financial statements?
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12/12/2019 - EFRAG's Comment Letter on the IASB Exposure Draft ED/2019/6 Disclosure of Accounting Policies.
EFRAG has published its Comment Letter in response to the IASB's Exposure Draft ED/2019/6 Disclosure of Accounting Policies (Proposed Amendments to IAS 1 and IFRS Practice Statement 2) (the ED).
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09/12/2019 - EFRAG's feedback statement on IASB ED Amendments to IFRS 17
EFRAG published its feedback statement to the IASB ED/2019/4 Amendments to IFRS 17 -
14/11/2019 - EFRAG final comment letter on the IASB exposure draft ED/2019/5 Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction - Proposed amendments to IAS 12
EFRAG has published its final comment letter in response to the IASB's Exposure Draft ED/2019/5 Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction - Proposed amendments to IAS 12.
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08/11/2019 - EFRAG's feedback statement on its comment letter to IASB ED/2019/1 Interest Rate Benchmark Reform
EFRAG has published its feedback statement on its final comment letter to the IASB's ED2019/1 Interest Rate Benchmark Reform (Proposed amendments to IFRS 9 and IAS 39). -
23/10/2019 - The European Corporate Reporting Lab @EFRAG has published a feedback statement on its agenda consultation and announces its next project
The European Corporate Reporting Lab @EFRAG has published a feedback statement summarising the input received from the public consultation on the European Lab's future agenda. At its October meeting, the European Lab Steering Group considered the feedback received and decided that the European Lab's second project will be on Reporting of non-financial risks and opportunities, and linkage to the business model (i.e. Project 2 in the consultation).
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23/10/2019 - Roundtable on the future agenda of the European Corporate Reporting Lab @EFRAG on 10 September 2019 - Summary Report
A summary report of the roundtable held by the European Corporate Reporting Lab @EFRAG (European Lab) on 10 September 2019 on its future agenda is now available.
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17/10/2019 - EFRAG's feedback statement on IASB ED/2019/3 Reference to the Conceptual Framework
EFRAG has published a feedback statement following submitting its comment letter on the IASB ED/2019/3 Reference to the Conceptual Framework (Proposed amendments to IFRS 3). -
16/10/2019 - EFRAG ENDORSEMENT ADVICE ON INTEREST RATE BENCHMARK REFORM (THE AMENDMENTS TO IFRS 9, IAS 39 AND IFRS 7)
EFRAG has completed its due process regarding Interest Rate Benchmark Reform (the Amendments to IFRS 9, IAS 39 and IFRS 7) (the Amendments) and has submitted its Endorsement Advice to the European Commission.
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04/10/2019 - EFRAG draft comment letter on the IASB Exposure Draft ED/2019/6 Disclosure of Accounting Policies (Proposed Amendments to IAS 1 and IFRS Practice Statement 2)
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2019/6 Disclosure of Accounting Policies (Proposed Amendments to IAS 1 and IFRS Practice Statement 2) and seeks constituents' views on the proposals. Comments are requested by 22 November 2019.
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30/09/2019 - EFRAG requests comments on its Draft Endorsement Advice on the Interest Rate Benchmark Reform (Amendments to IFRS 9, IAS 39 and IFRS 7)
EFRAG is consulting on both its assessment of the IASB's Exposure Draft ED/2019/1 Interest Rate Benchmark Reform (proposed Amendments to IFRS 9, IAS 39 and IFRS 7) (the Amendments) against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Highlighting that the entire endorsement process is urgent in order to make the reliefs available for early adoption for the 2019 financial reporting, EFRAG requests your comments by 10 October 2019.
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24/09/2019 - EFRAG's final comment letter on the IASB's ED/2019/4 Amendments to IFRS 17
EFRAG has published its final comment letter in response to the IASB's Exposure Draft ED/2019/4 Amendments to IFRS 17.
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24/09/2019 - EFRAG comment letter on IASB ED/2019/3 Reference to the Conceptual Framework (Proposed amendments to IFRS 3)
EFRAG has submitted its comment letter in response to the IASB's Exposure Draft ED/2019/3 Reference to the Conceptual Framework (Proposed amendments to IFRS 3). -
20/09/2019 - IBOR Reform - pre-announcement on draft endorsement advice consultation
EFRAG pre-announces the launch of its draft endorsement advice consultation on the Interest Rate Benchmark Reform (Amendments to IFRS 9, IAS 39 and IFRS 7) on 26 September and invites constituents to provide their comments.
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13/09/2019 - EFRAG draft comment letter on the IASB exposure draft ED/2019/5 Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction - Proposed amendment to IAS 12
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2019/5 Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction - Proposed amendments to IAS 12 and seeks constituents' views on the proposals. Comments are requested by 25 October 2019. -
20/08/2019 - EFRAG final comment letter on the IASB's ED/2019/2 Annual Improvements to IFRS Standards 2018-2020 Cycle
EFRAG has published its final comment letter in response to the IASB's Exposure Draft ED/2019/2 Annual Improvements to IFRS Standards 2018-2020 Cycle
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27/07/2019 - Comment letter on Proposed amendments to the IFRS Foundation Due Process Handbook
EFRAG has published its comment letter in response to the IFRS Foundation's Exposure Draft Proposed amendments to the IFRS Foundation Due Process Handbook.
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19/07/2019 - EFRAG invites users of the financial statements of insurers to express their views by interview
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2019/4 Amendments to IFRS 17. EFRAG is inviting users to express their views on this draft comment letter in an interview. Expressions of interest in participating in this outreach are requested by Friday 16 August 2019.
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19/07/2019 - Participation in European Lab Dialogue on Climate-related Reporting
The European Lab PTF is planning to have a dialogue with users, preparers and other interested stakeholders to obtain practical insights on good practices to be reflected in a draft report on climate-related reporting to be issued in Q4 2019. -
18/07/2019 - Contribute to the future agenda of the European Lab!
The European Corporate Reporting Lab @EFRAG (European Lab) is launching a public consultation on its future project topics and their respective priority and importance for Europe. You are invited to provide your input by 30 September 2019.
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15/07/2019 - EFRAG's draft comment letter on the IASB's ED/2019/4 Amendments to IFRS 17
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2019/4 Amendments to IFRS 17 and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 2 September 2019. -
12/07/2019 - EFRAG's feedback statement on FICE Early-Stage Analysis EFRAG Secretariat Working Paper
EFRAG has published a feedback statement on the FICE Early-Stage Analysis EFRAG Secretariat Working Paper.
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10/07/2019 - Feedback statement on EFRAG Discussion Paper Non-exchange Transfers: A role for societal benefit?
EFRAG has published a feedback statement on its Discussion Paper Non-exchange Transfers: A role for societal benefit?
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28/06/2019 - EFRAG DRAFT COMMENT LETTER ON IASB ED/2019/3 Reference to the Conceptual Framework (Proposed amendments to IFRS 3)
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2019/3 Reference to the Conceptual Framework (Proposed amendments to IFRS 3) and seeks constituents' views on the proposals. Comments are requested by 17 August 2019.
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20/06/2019 - EFRAG's final comment letter on the IASB's ED 2019/1 Interest Rate Benchmark Reform (proposed amendments to IFRS 9 and IAS 39)
EFRAG has published its final comment letter in response to the IASB's Exposure Draft ED/2019/1 Interest Rate Benchmark Reform (proposed amendments to IFRS 9 and IAS 39). -
14/06/2019 - Draft comment letter on Proposed Amendments to the IFRS Foundation Due Process Handbook
EFRAG has published its draft comment letter in response to the IFRS Foundation's Exposure Draft Proposed amendments to the IFRS Foundation Due Process Handbook and seeks constituents' views on the proposals. Responses to the draft comment letter are requested by 12 July 2019.
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13/06/2019 - What are your views on the accounting for long-term equity instruments? Still on time to respond to our survey
EFRAG kindly reminds its constituents to provide their views on whether alternative accounting treatments to those in IFRS 9 Financial Instruments are needed to portray the performance and risks of equity and equity-type instruments held in long-term investment business models.
Please provide your comments by 5 July.
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05/06/2019 - EFRAG draft comment letter on the IASB exposure draft ED/2019/2 Annual Improvements to IFRS Standards 2018-2020
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2019/2 Annual Improvements to IFRS Standards 2018-2020 and seeks constituents' views on the proposals. Comments are requested by 5 August 2019.
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15/05/2019 - Discussion Paper – Accounting for Pension Plans with an Asset-Return Promise
This Discussion Paper explores alternative accounting treatments for post-retirement employee benefits, promising the higher of the return on an identified item or group of items and a minimum guaranteed return.
Comments on the DP are requested by 15 November 2019.
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13/05/2019 - EFRAG's draft comment letter on the IASB's ED/2019/1 Interest Rate Benchmark Reform (proposed amendments to IFRS 9 and IAS 39)
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2019/1 Interest Rate Benchmark Reform (proposed amendments to IFRS 9 and IAS 39) and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 31 May 2019.
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06/05/2019 - New EFRAG consultation on Equity Instruments – Research on Measurement
EFRAG is launching a public consultation to gather constituents' views on whether alternative accounting treatments to those in IFRS 9 Financial Instruments are needed to portray the performance and risks of equity and equity-type instruments held in long-term investment business models.
Please provide your comments by 5 July.
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03/05/2019 - EFRAG extends the comment period for its Discussion Paper Non-exchange Transfers: A role for societal benefit?
EFRAG has extended the comment period for its Discussion paper Non-exchange Transfers ('NETs'): A role for societal benefit?.
The revised deadline for comments is Tuesday 14 May 2019, by close of business.
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25/04/2019 - EFRAG’s Comment Letter and Feedback Statement on IASB's Exposure Draft ED/2018/2 Onerous Contracts - Cost of Fulfilling a Contract (Proposed Amendments to IAS 37)
EFRAG has published its comment letter and its feedback statement in response to the IASB's Exposure Draft ED/2018/2 Onerous Contracts - Cost of Fulfilling a Contract (Proposed Amendments to IAS 37).
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29/03/2019 - Reminder: FICE Early-Stage Analysis - Please provide input by 17 May 2019
The EFRAG Secretariat reminds constituents to provide their views on the FICE Early-Stage Analysis Working Paper. The comment period is extended to close of business on Friday 17 May 2019.
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28/03/2019 - EFRAG's endorsement advice on Definition of a Business (Amendments to IFRS 3)
EFRAG has completed its due process regarding Definition of a Business (Amendments to IFRS 3).
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28/02/2019 - Issuance and call for comments on FICE Early-Stage Analysis Working Paper
The EFRAG Secretariat issues a Working Paper: Early-stage Analysis - Potential Effects of the IASB Discussion Paper on Financial Instruments with Characteristics of Equity (FICE).
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22/02/2019 - How should discounting be applied to pension obligations?
EFRAG and ICAS seek views on discount rates as applied to pension accounting.
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20/02/2019 - EFRAG's endorsement advice on Definition of Material (Amendments to IAS 1 and IAS 8)
EFRAG has completed its due process regarding Definition of Material (Amendments to IAS 1 and IAS 8).
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20/02/2019 - EFRAG’s feedback statement and video on FICE
EFRAG has published its feedback statement on the IASB's DP Financial Instruments with Characteristics of Equity and a video where Andrew Watchman, EFRAG TEG Chairman and CEO, explains how the comments received were considered by EFRAG during its technical discussions.
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15/02/2019 - European Lab Project Task Force on Climate-related Reporting appointed
The European Lab Steering Group has appointed the Project Task Force for its first project on climate-related reporting.
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01/02/2019 - EFRAG Comment Letter on the IASB DP/2018/01 on the distinction between liabilities and equity
EFRAG has published its comment letter in response to the IASB's Discussion Paper 2018/1 Financial Instruments with Characteristics of Equity (the 'DP') which welcomes the IASB's efforts to address the issues that arise from IAS 32 Financial Instruments: Presentation but suggests the IASB to focus at this stage on targeted improvements to IAS 32.
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25/01/2019 - EFRAG's Draft Comment Letter on the IASB ED/2018/2 Onerous Contracts - Cost of Fulfilling a Contract - Proposed amendments to IAS 37
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft 2018/2 Onerous Contracts - Cost of Fulfilling a Contract - Proposed amendments to IAS 37 (the 'ED') and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 5 April 2019, by close of business.
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16/01/2019 - Apply now to join the climate-related reporting task force
The European Reporting Lab@EFRAG is looking for members for its new Project Task Force on Climate-related Reporting. The deadline for applications is 26 January 2019.
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14/01/2019 - Extended application deadline for the academic literature review on intangible assets
The new deadline is 31 January 2019.
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14/01/2019 - EFRAG requests comments on its Draft Endorsement Advice on Definition of a Business (Amendments to IFRS 3)
EFRAG is consulting on both its assessment of the Amendments against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 4 March 2019.
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11/12/2018 - EFRAG requests comments on its Draft Endorsement Advice on Definition of Material (Amendments to IAS 1 and IAS 8)
EFRAG is consulting on both its assessment of Definition of Material (Amendments to IAS 1 and IAS 8) ('the Amendments') against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 1 February 2019.
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04/12/2018 - EFRAG calls for an academic literature review on reporting on intangible assets
The academic literature review will form part of EFRAG's project on better information on intangible assets.
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30/11/2018 - EFRAG publishes its technical advice to the European Commission
EFRAG publishes its response to the request for technical advice from the European Commission on the accounting for equity instruments from a long-term investment perspective
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27/11/2018 - EFRAG issues a Discussion Paper to explore accounting for non-exchange transfers
EFRAG's Discussion Paper Non-exchange Transfers ('NETs'): A role for societal benefit? explores the accounting for transfers in which an entity received (or gives) value without directly giving (or receiving) approximately equal value in exchange. NETs include levies and Government grants. In its Discussion Paper (DP), EFRAG explores a comprehensive approach to report these transfers. The DP notes that NETs may be motivated by an objective of 'societal benefit' and considers how this notion could be used in accounting for them.
Comments on the DP are requested by 30 April 2019. -
22/11/2018 - Reminder: Debt or equity? Impact assessment surveys
EFRAG has extended the deadline until 30 November 2018 for its user and preparer surveys seeking views on the likely impact of the proposals of the IASB Discussion Paper Financial Instruments with Characteristics of Equity on the distinction between debt and equity.
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15/11/2018 - European Lab Steering Group appointed
The EFRAG General Assembly has appointed the Steering Group for the new European Corporate Reporting Lab (the ‘European Lab@EFRAG’).
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01/11/2018 - A clearer picture on FICE
EFRAG has issued two bulletins to help constituents better understand the IASB’s Discussion Paper Financial Instruments with Characteristics of Equity and participate in the debate on it.
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26/10/2018 - Letter to the ESAs on IFRS 17
EFRAG has written to the European Supervisory Authorities (ESAs) on the process of endorsement of IFRS 17.
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24/10/2018 - Debt or Equity? - Impact assessment surveys
EFRAG seeks feedback from preparers and users of financial statements to assess the impact of the IASB’s Discussion Paper Financial Instruments with Characteristics of Equity on distinction between debt and equity.
EFRAG invites you to complete the appropriate survey by 26 November 2018. Your participation will help enrich the quality and representativeness of the overall findings. -
12/10/2018 - EFRAG's endorsement advice on Amendments to References to the Conceptual Framework in IFRS Standards
EFRAG has completed its due process regarding Amendments to References to the Conceptual Framework in IFRS Standards.
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01/10/2018 - Reminder - Call for candidates - European Lab Steering Group
EFRAG is looking for candidates from a wide range of backgrounds for the Steering Group of the new European Corporate Reporting Lab (the European Lab). You can apply until 8 October.
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26/09/2018 - FICE consultation update
Get up to speed with EFRAG's draft comment letter on FICE in the latest EFRAG video.
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13/09/2018 - Join the new European Corporate Reporting Lab at EFRAG
Call for candidates published for members of the European Lab Steering Group
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04/09/2018 - Letter to IASB on IFRS 17
EFRAG has written to the IASB to highlight certain aspects of IFRS 17 that, in EFRAG's view, merit further consideration.
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29/08/2018 - Summary of Responses - Equity Instruments - Impairment and Recycling
Due to a technical issue with the prior version of this news item, EFRAG is republishing the news item concerning summary of responses received from constituents on the Discussion Paper Equity Instruments - Impairment and Recycling. -
28/08/2018 - EFRAG Draft Comment Letter on the IASB DP/2018/01 on the distinction between liabilities and equity
EFRAG has published its draft comment letter in response to the IASB's Discussion Paper 2018/1 Financial Instruments with Characteristics of Equity (the 'DP') and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 3 December 2018, by close of business.
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23/08/2018 - EFRAG’s comment letter and feedback statement on ED/2018/1 Accounting Policy Changes (Proposed amendments to IAS 8)
EFRAG has published its comment letter and its feedback statement in response to the IASB's ED/2018/1 Accounting Policy Changes (Proposed amendments to IAS 8).
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20/08/2018 - Feedback Statement - 2018 EFRAG Research Agenda Consultation
EFRAG publishes the Feedback Statement on its 2018 Research Agenda consultation.
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06/07/2018 - EFRAG requests comments on its draft endorsement advice on Amendments to References to the Conceptual Framework in IFRS Standards
EFRAG is consulting on its assessment of Amendments to References to the Conceptual Framework in IFRS Standards. Comments are requested by 14 September 2018.
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28/05/2018 - EFRAG’s endorsement advice on amendments to IAS 19
EFRAG has completed its due process regarding Plan Amendment, Curtailment or Settlement (Amendments to IAS 19) and has submitted its Endorsement Advice Letter to the European Commission.
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23/05/2018 - Reminder: Impact of IFRS 17 - Please provide input by 31 May 2018
EFRAG encourages constituents to provide their views on the impact of IFRS 17 as a key input into its endorsement advice to the European Commission. Responses are requested by close of business on Thursday 31 May 2018.
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17/05/2018 - Have your say on equity instruments - impairment and recycling
You have until 25 May 2018 to comment on EFRAG's Discussion Paper on recycling and impairment of equity instruments designated at fair value through other comprehensive income. Constituents' view will help develop EFRAG's technical advice to the European Commission.
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04/05/2018 - Your input wanted on the impact of IFRS 17
EFRAG encourages constituents to provide their views on the impact of IFRS 17. Responses are requested by close of business on Thursday 31 May 2018.
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26/04/2018 - Long-term investment and equity instruments consultation
New video presentation with Research Director Filippo Poli on why EFRAG wants your views on recycling and impairment of equity instruments by 25 May 2018.
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24/04/2018 - EFRAG's endorsement advice on IAS 28 Amendments
EFRAG has completed its due process regarding Long-term Interests in Associates and Joint Ventures (Amendments to IAS 28) and has submitted its Endorsement Advice Letter to the European Commission.
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24/04/2018 - EFRAG's draft comment letter on the IASB's ED/2018/1 Accounting Policy Changes (Proposed amendments to IAS 8)
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2018/1 Accounting Policy Changes (Proposed amendments to IAS 8) (the 'ED') and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 13 July 2018, by close of business.
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11/04/2018 - EFRAG invites users of the financial statements of insurers to express their views
IFRS 17 Insurance Contracts is intended to improve the information that is available to users of financial statements of insurance companies and financial conglomerates. EFRAG is inviting users to express their views on this change to IFRS financial reporting. Expressions of interest in participating in this outreach are requested by close of business on Friday 11 May 2018.
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05/04/2018 - 2018 EFRAG Research agenda consultation
EFRAG is seeking public input on the strategic direction of its Research activities. Constituents' contributions will help to reflect on the future direction of Research on financial reporting. Responses should be submitted by 1 June 2018 also by using the online survey here.
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28/03/2018 - Independent academic literature review on IFRS 9 and long-term investment
In the context of its investigation on the potential effect of IFRS 9 Financial Instruments on long-term investments, EFRAG commissioned a literature review to an independent international academic team. The literature review is part of the evidence that will be considered and complements EFRAG's Discussion Paper.
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22/03/2018 - Two new IFRS 17 briefing papers
EFRAG issues two background briefing papers on the Release of the Contractual Service Margin and the Transition Requirements of IFRS 17 Insurance Contracts.
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21/03/2018 - EFRAG Endorsement Advice on Annual Improvements to IFRS Standards 2015-2017 Cycle
EFRAG has completed its due process regarding Annual Improvements to IFRS Standards 2015-2017 Cycle and has submitted its Endorsement Advice Letter to the European Commission.
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21/03/2018 - EFRAG requests comments on its draft endorsement advice on Plan Amendment, Curtailment or Settlement (Amendments to IAS 19)
EFRAG is consulting on its assessment of Plan Amendment, Curtailment or Settlement (Amendments to IAS 19) both against the technical criteria in the EU and whether those amendments are conducive to the European public good. Comments are requested by 21 April 2018.
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14/03/2018 - Feedback statement on EFRAG's goodwill impairment paper
In June 2017 EFRAG issued the Discussion Paper Goodwill impairment test: can it be improved? which included suggestions to improve the goodwill impairment test. EFRAG is now issuing a feedback statement which summarises the response received from constituents. The feedback will be used by EFRAG in developing its response to any future IASB proposals arising from its Goodwill and Impairment research project.
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01/03/2018 - New EFRAG Discussion Paper on Equity Instruments - Impairment and Recycling
EFRAG is publishing a Discussion Paper to gather constituents' views on recycling and impairment of equity instruments designated at fair value through other comprehensive income to develop its technical advice to the European Commission. Please provide your comments by 25 May 2018.
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23/02/2018 - EFRAG issues IFRS 17 background briefing paper on level of aggregation
EFRAG issues a background briefing paper on the level of aggregation requirements of IFRS 17 Insurance Contracts. Constituents that wish to comment can do so before 30 April 2018.
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07/02/2018 - EFRAG issues IFRS 17 simplified case study
European insurers that apply IFRS Standards are invited to complete a simplified case study on the expected impact of IFRS 17 Insurance Contracts. Responses are requested by close of business on Thursday 31 May 2018.
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26/01/2018 - EFRAG requests comments on its draft endorsement advice on Annual Improvements to IFRS Standards 2015–2017 Cycle
EFRAG is consulting on both its assessment of Annual Improvements to IFRS Standards 2015–2017 Cycle against the techincal criteria in the EU and on its assessment of whether those amendments are conducive to the European public good. Comments are requested by 26 February 2018.
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23/01/2018 - EFRAG's Comment Letter and Feedback Statement on the IASB's Exposure Draft ED/2017/6 Definition of Material - Proposed amendments to IAS 1 and IAS 8
EFRAG has issued its Comment Letter and Feedback Statement on the IASB's Exposure Draft ED/2017/6 Definition of Material - Proposed amendments to IAS 1 and IAS 8 (the 'ED').
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17/01/2018 - EFRAG's report to the European Commission on the assessment of the impact of IFRS 9 on long-term investments in equity instruments
EFRAG issued a letter to the European Commission to report on the findings of the first phase (the assessment phase) of its investigation into the significance of investments in equity instruments and the possible effects on long-term investments of the new requirements in IFRS 9 Financial Instruments.
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08/01/2018 - EFRAG's Comment Letter and Feedback Statement on the IASB's Exposure Draft ED/2017/5 Accounting Policies and Accounting Estimates (Proposed amendments to IAS 8)
EFRAG has issued its Comment Letter and Feedback Statement on the IASB's Exposure Draft ED/2017/5 Accounting Policies and Accounting Estimates (Proposed amendments to IAS 8).
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15/12/2017 - EFRAG requests comments on its draft endorsement advice on Amendments to IAS 28
EFRAG is consulting on both its assessment of the Amendments against the techincal criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 16 February 2018.
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12/12/2017 - REMINDER: Please provide input to EFRAG's consultation on goodwill impairment testing
The IASB expects to publish its proposals on the impairment test for goodwill in 2018. EFRAG’s Discussion Paper Goodwill impairment test: can it be improved? illustrates a number of suggestions to enhance the application and effectiveness and to reduce the complexity of the goodwill impairment test. EFRAG asks European constituents' views on these suggestions by 31 December 2017.
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15/11/2017 - EFRAG's feedback statement on the IASB's Discussion Paper DP/2017/1 Disclosure Initiative - Principles of Disclosure
EFRAG has published a feedback statement following the publication of its final comment letter on the IASB's Discussion Paper DP/2017/1 Disclosure Initiative - Principles of Disclosure.
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10/11/2017 - EFRAG's comment letter on the IASB's ED/2017/4 Property, Plant and Equipment - Proceeds before Intended Use (Proposed amendments to IAS 16)
EFRAG has published its comment letter in response to the IASB's Exposure Draft ED/2017/4 Property, Plant and Equipment - Proceeds before Intended Use (Proposed amendments to IAS 16).
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10/11/2017 - EFRAG’s Endorsement Advice on Prepayment Features with Negative Compensation (Amendments to IFRS 9)
EFRAG has completed its due process regarding Prepayment Features with Negative Compensation (Amendments to IFRS 9) and has submitted its Endorsement Advice Letter to the European Commission.
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06/11/2017 - EFRAG's endorsement advice on IFRIC 23 Uncertainty over Income Tax Treatments
EFRAG has completed its due process regarding IFRIC 23 Uncertainty over Income Tax Treatments and has submitted its Endorsement Advice Letter to the European Commission.
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18/10/2017 - EFRAG requests comments on its draft endorsement advice on Prepayment Features with Negative Compensation (Amendments to IFRS 9)
EFRAG is consulting on both its assessment of Prepayment Features with Negative Compensation (Amendments to IFRS 9) against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good.
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12/10/2017 - EFRAG's comment letter on the IASB's Discussion Paper DP/2017/1 Disclosure Initiative - Principles of Disclosure
EFRAG has published its comment letter in response to the IASB's Discussion Paper DP/2017/1 Disclosure Initiative - Principles of Disclosure. -
05/10/2017 - EFRAG's feedback statement on the IASB's ED/2017/2 Improvements to IFRS 8 Operating Segments (Proposed amendments to IFRS 8 and IAS 34)
EFRAG has published a feedback statement following the publication of its final comment letter on the IASB's Exposure Draft ED/2017/2 Improvements to IFRS 8 Operating Segments (Proposed amendments to IFRS 8 and IAS 34).
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02/10/2017 - EFRAG's draft comment letter on the IASB's Exposure Draft ED/2017/6 Definition of Material - Proposed amendments to IAS 1 and IAS 8
EFRAG has published its draft comment letter in response to the ED/2017/6 Definition of Material and seeks constituents' views on the proposal. Comments on the draft comment letter and inputs in it are requested by 5 January 2018.
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29/09/2017 - EFRAG's draft comment letter on the IASB's ED/2017/5 Accounting Policies and Accounting Estimates (Proposed amendments to IAS 8)
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2017/5 Accounting Policies and Accounting Estimates (Proposed amendments to IAS 8) and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 7 December 2017.
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19/09/2017 - REMINDER: Please provide input to EFRAG's consultation on equity holdings by 30 September
Following a request for technical advice from the European Commission, EFRAG is collecting evidence from European Constituents on information about the significance of their existing investments in equity instruments and the possible effects of IFRS 9 Financial Instruments on their equity portfolios. Participants are kindly required to complete this survey by 30 September 2017.
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08/09/2017 - EXTENSION OF DEADLINE FOR EFRAG CALL FOR AN ACADEMIC LITERATURE REVIEW ON THE INTERACTION OF IFRS 9 AND LONG-TERM INVESTMENT DECISIONS
The academic literature review will form part of the evidence that EFRAG will consider in its Research on the impairment of equity investments and the relation between an effective impairment model and the recycling of gains or losses on disposal of equity investments designated at fair value through Other Comprehensive Income.
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22/08/2017 - EFRAG CALLS FOR AN ACADEMIC LITERATURE REVIEW ON THE INTERACTION OF IFRS 9 AND LONG-TERM INVESTMENT DECISIONS
The academic literature review will form part of the evidence that EFRAG will consider in its Research on the impairment of equity investments and the relation between an effective impairment model and the recycling of gains or losses on disposal of equity investments designated at fair value through Other Comprehensive Income.
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16/08/2017 - REMINDER: EFRAG Call for Evidence – Experiences with IFRS 13
EFRAG is requesting evidence from European Constituents on their experiences with IFRS 13 Fair Value Measurement.
Do not miss the opportunity to share your views and provide input!
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03/08/2017 - EFRAG’s final comment letter on the IASB’s Exposure Draft ED/2017/2 Improvements to IFRS 8 Operating Segments – Proposed amendments to IFRS 8 and IAS 34
EFRAG has published its final comment letter in response to the IASB's Exposure Draft ED/2017/2 Improvements to IFRS 8 Operating Segments – Proposed amendments to IFRS 8 and IAS 34.
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02/08/2017 - EFRAG requests comments on its draft endorsement advice on IFRIC 23 Uncertainty over Income Tax Treatments
EFRAG is consulting on its assessment of IFRIC Interpretation 23 Uncertainty over Income Tax Treatments against the endorsement criteria in the IAS Regulation, including the technical criteria and whether IFRIC 23 is conducive to the European public good. Comments are requested by Monday 9 October 2017, CoB.
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05/07/2017 - EFRAG's draft comment letter on the IASB's ED/2017/4 Property, Plant and Equipment - Proceeds before Intended Use (Proposed amendments to IAS 16)
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2017/4 Property, Plant and Equipment - Proceeds before Intended Use (Proposed amendments to IAS 16) and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 13 October 2017.
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04/07/2017 - EFRAG requests evidence on equity investments held by European constituents and possible effects of IFRS 9
Following a request for technical advice from the European Commission, EFRAG is collecting evidence from European Constituents on information about the significance of their existing investments in equity instruments and the possible effects of IFRS 9 Financial Instruments on their equity portfolios. Participants are kindly required to complete this survey by 30 September 2017.
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03/07/2017 - EFRAG Call for Evidence – Experiences with IFRS 13 Fair Value
EFRAG is requesting evidence from European Constituents on their experiences with IFRS 13 Fair Value Measurement.
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29/06/2017 - New EFRAG discussion paper tackles goodwill impairment testing
EFRAG’s Discussion Paper Goodwill impairment test: can it be improved? is the latest in a series of EFRAG research publications on goodwill accounting - a complex and controversial topic. This publication illustrates a number of potential amendments to the goodwill impairment test with the view to enhancing its application and effectiveness and reducing complexity.
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13/06/2017 - EFRAG's feedback statement on the IASB's ED/2017/3 Prepayment Features with Negative Compensation (Proposed amendments to IFRS 9)
EFRAG has published a feedback statement following the publication of its final comment letter on the IASB's Exposure Draft ED/2017/3 Prepayment Features with Negative Compensation (Proposed amendments to IFRS 9).
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08/06/2017 - EFRAG's draft comment letter on the IASB's Discussion Paper DP/2017/1 Disclosure Initiative - Principles of Disclosure
EFRAG has published its draft comment letter in response to the IASB's Discussion Paper DP/2017/1 Disclosure Initiative - Principles of Disclosure and seeks for constituents' views on the proposals. Comments are requested by 11 September 2017.
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31/05/2017 - EFRAG's comment letter on the IASB's Exposure Draft ED/2017/3 Prepayment Features with Negative Compensation (Proposed amendments to IFRS 9)
EFRAG has published its comment letter in response to the IASB's Exposure Draft ED/2017/3 Prepayment Features with Negative Compensation (Proposed amendments to IFRS 9).
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05/05/2017 - EFRAG's preliminary responses to the questions in the IASB’s DP-2017-1 Disclosure Initiative - Principles of Disclosure
EFRAG has published its preliminary responses to the questions in the IASB's Discussion Paper DP/2017/1 Disclosure Initiative - Principles of Disclosure. Constituents' views will be sought by 11 September 2017.
IMPORTANT UPDATE: On 8 June 2017, EFRAG has published its draft comment letter in response to the IASB DP, which supersedes the preliminary consultation document. You can comment on EFRAG's draft comment letter by clicking here.
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04/05/2017 - EFRAG's draft comment letter on the IASB's ED-2017-3 Prepayment features with negative compensation (proposed amendments to IFRS 9)
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2017/3 Prepayment Features with Negative Compensation (proposed Amendments to IFRS 9) and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 17 May 2017.
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26/04/2017 - EFRAG’s draft comment letter on the IASB’s Exposure Draft ED/2017/2 Improvements to IFRS 8 Operating Segments – Proposed amendments to IFRS 8 and IAS 34
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2017/2 Improvements to IFRS 8 Operating Segments – Proposed amendments to IFRS 8 and IAS 34 and seeks constituents' views on the proposals. Comments are requested by 17 July 2017.
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19/04/2017 - EFRAG's comment letter and feedback statement on IASB ED/2017/1 Annual Improvements to IFRS Standards 2015-2017 Cycle
EFRAG has published its comment letter and its feedback statement in response to the IASB's ED/2017/1 Annual Improvements to IFRS Standards 2015-2017 Cycle.
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06/04/2017 - EFRAG's endorsement advice on IFRIC 22 Foreign Currency Transactions and Advance Consideration
EFRAG has completed its due process regarding IFRIC 22 Foreign Currency Transactions and Advance Consideration and has submitted its Endorsement Advice Letter to the European Commission.
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06/04/2017 - EFRAG's endorsement advice on Transfers of Investment Property (Amendments to IAS 40)
EFRAG has completed its due process regarding Transfers of Investment Property (Amendments to IAS 40) and has submitted its Endorsement Advice Letter to the European Commission.
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06/04/2017 - EFRAG Endorsement Advice on Annual Improvements to IFRS Standards 2014-2016 Cycle
EFRAG has completed its due process regarding Annual Improvements to IFRS Standards 2014-2016 Cycle and has submitted its Endorsement Advice Letter to the European Commission.
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27/03/2017 - EFRAG Endorsement Advice on IFRS 16 Leases.
EFRAG has completed its due process regarding IFRS 16 Leases and has submitted its Endorsement Advice to the European Commission.
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03/03/2017 - REMINDER: EFRAG REQUESTS COMMENTS ON ITS DRAFT ENDORSEMENT ADVICE ON THE ANNUAL IMPROVEMENTS TO IFRS STANDARDS 2014-2016 CYCLE
EFRAG reminds constituents that it is currently consulting on both its assessment of the Amendments against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. Comments are requested by 17 March 2017.
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22/02/2017 - EFRAG publishes a study from an economic consultancy used as input to its Endorsement Advice on IFRS 16 Leases.
EFRAG commissioned a study from an independent economic consultancy as an input to its Endorsement Advice on IFRS 16 Leases. EFRAG's Draft Endorsement Advice, which is open for comment until 13 March 2017, include various references to this study. The aim of the study was to provide input into EFRAG's analysis of potential changes in the behaviour of preparers, investors and lenders arising from IFRS 16 and the economic impact of such changes including on the leasing industry and SMEs. The study also considered the estimated costs and benefits of IFRS 16.
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21/02/2017 - EFRAG requests comments on its draft endorsement advice on Transfers of Investment Property (Amendments to IAS 40)
EFRAG is consulting on both its assessment of Transfers of Investment Property (Amendments to IAS 40) against the technical criteria in the EU and on its assessment of whether Transfers of Investment Property (Amendments to IAS 40) is conducive to the European public good. Comments are requested by 20 March 2017.
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17/02/2017 - EFRAG requests comments on its draft endorsement advice on IFRIC Interpretation 22 Foreign Currency Transactions and Advance Consideration
EFRAG is consulting on its assessment of IFRIC Interpretation 22 Foreign Currency Transactions and Advance Consideration against the endorsement criteria in the IAS Regulation, including the technical criteria and whether IFRIC 22 is conducive to the European public good. Comments are requested by 17 March 2017.
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14/02/2017 - EFRAG requests comments on its Draft Endorsement Advice on IFRS 16 Leases
Following a Preliminary Consultation which closed last December, EFRAG has now issued its Draft Endorsement Advice on IFRS 16 Leases. EFRAG seeks the views of constituents, by 13 March 2017, in particular on its preliminary assessment of whether endorsing IFRS 16 would be conducive to the European Public Good. EFRAG also welcomes views on other relevant matters.
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02/02/2017 - EFRAG's draft comment letter on the IASB's ED/2017/1 Annual Improvements to IFRS Standards 2015-2017 Cycle
EFRAG has published its draft comment letter in response to the IASB's ED/2017/1 Annual Improvements to IFRS Standards 2015-2017 Cycle and seeks constituents' views on the proposals. Comments are requested by 3 April 2017.
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21/12/2016 - EFRAG calls for more guidance on asymmetry in the Conceptual Framework
EFRAG has submitted a letter to the IASB asking for the Conceptual Framework to include directions for the use of asymmetry.
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14/12/2016 - EFRAG's Endorsement Advice on Classification and Measurement of Share-based Payment Transactions (Amendments to IFRS 2)
EFRAG has completed its due process regarding Classification and Measurement of Share-based Payment Transactions (Amendments to IFRS 2) and has submitted its Endorsement Advice Letter to the European Commission.
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24/11/2016 - Feedback Statement on the IASB's Exposure Draft ED/2016/1 Definition of a Business and Accounting for Previously Held Interests
EFRAG has published a feedback statement on EFRAG's Draft Comment letter on the IASB's Exposure Draft ED/2016/1 Definition of a Business and Accounting for Previously Held Interests.
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15/11/2016 - EFRAG requests comments by 13 December 2016 on its draft endorsement advice on Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts (Amendments to IFRS 4)
EFRAG is consulting on both its assessment of the Amendments against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good.
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09/11/2016 - EFRAG's Final Comment Letter on the IASB's Exposure Draft ED/2016/1 Definition of a Business and Accounting for Previously Held Interests
EFRAG has issued its Final Comment Letter on the IASB's Exposure Draft Definition of a Business and Accounting for Previously Held Interests.
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07/11/2016 - EFRAG seeks users’ views on the endorsement of IFRS 16 Leases by 8 December 2016
EFRAG is specifically seeking the views of users on the endorsement of IFRS 16 Leases in addition to the questions in the EFRAG Preliminary Consultation Document. Responses are requested by 8 December 2016.
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12/10/2016 - EFRAG requests comments on its Preliminary Consultation Document regarding the endorsement of IFRS 16 Leases
EFRAG has issued a Preliminary Consultation Document relating to the endorsement for use in the EU of IFRS 16 Leases. EFRAG is seeking the views of constituents, by 8 December 2016, on the specific matters raised in this document and any other issues considered relevant to EFRAG's endorsement advice.
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07/10/2016 - EFRAG requests comments on its draft endorsement advice on Classification and Measurement of Share-based Payment Transactions - Amendments to IFRS 2
EFRAG is consulting on both its assessment of the Amendments against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good.
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29/09/2016 - What do we really know about goodwill and impairment? – A quantitative study
EFRAG publishes a quantitative study on Goodwill and Goodwill Impairment
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27/07/2016 - EFRAG's Draft Comment Letter on the IASB's Exposure Draft ED/2016/1 Definition of a Business and Accounting for Previously Held Interests
EFRAG has issued its Draft Comment Letter on the IASB's Exposure Draft Definition of a Business and Accounting for Previously Held Interests.
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06/07/2016 - EFRAG's Endorsement Advice on Clarifications to IFRS 15 Revenue from Contracts with Customers
EFRAG has completed its due process regarding Clarifications to IFRS 15 Revenue from Contracts with Customers and has submitted its Endorsement Advice Letter to the European Commission.
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08/06/2016 - EFRAG's Endorsement Advice on Amendments to IAS 12 Recognition of Deferred Tax Assets for Unrealised Losses
EFRAG has completed its due process regarding Recognition of Deferred Tax Assets for Unrealised Losses: Amendments to IAS 12 and has submitted its Endorsement Advice Letter to the European Commission.
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06/06/2016 - EFRAG's Endorsement Advice on Disclosure Initiative - Amendments to IAS 7
EFRAG has completed its due process regarding Disclosure Initiative - Amendments to IAS 7 and has submitted its Endorsement Advice Letter to the European Commission.
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31/05/2016 - Feedback Statement on EFRAG Discussion Paper The Statement of Cash Flows: Issues for Financial Institutions
EFRAG has published a feedback statement on EFRAG Discussion Paper The Statement of Cash Flows: Issues for Financial Institutions.
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17/05/2016 - EFRAG requests comments on its draft endorsement advice on Clarifications to IFRS 15 Revenue from Contracts with Customers
EFRAG is consulting on both its assessment of the Clarifications against the technical criteria in the EU and on its assessment of whether the Clarifications are conducive to the European public good.
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11/04/2016 - EFRAG requests comments on its draft endorsement advice on Deferred Tax Assets for Unrealised Losses (Amendments to IAS 12)
EFRAG is consulting on both its assessment of the Amendments against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good.
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11/04/2016 - EFRAG requests comments on its draft endorsement advice on Disclosure Initiative - Amendments to IAS 7
EFRAG is consulting on both its assessment of the Amendments against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good.
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11/04/2016 - Feedback on EFRAG's future proactive work
EFRAG provides feedback on its public consultation of October asking constituents to express views on the effectiveness of the EFRAG's proactive activities, the coordination with the IASB Research activities and to provide suggestions on research topics.
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06/04/2016 - Measurement in the IFRS Conceptual Framework
EFRAG has issued supplementary proposals related to the Measurement Chapter of the IFRS Conceptual Framework
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25/03/2016 - EFRAG's comment letter and feedback statement on the IASB's ED/2015/9 Transfers of Investment Property
EFRAG issued its comment letter and feedback statement on the IASB's Exposure Draft ED/2015/9 Transfers of Investment Property: Proposed Amendment to IAS 40.
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18/03/2016 - Summary of responses on questionnaire on assets and liabilities
EFRAG publishes a summary of the responses received on the questionnaire on the proposed definitions of an asset and of a liability.
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14/03/2016 - Feedback statement on Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts
EFRAG has published a feedback statement following the publication of its final comment letter on the Exposure Draft ED/2015/11 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts.
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14/03/2016 - Feedback Statement on EFRAG Draft Comment Letter in response to IASB ED/2015/3 Conceptual Framework for Financial Reporting
EFRAG has published a feedback statement following the publication of its comment letter on the IASB Exposure Draft Conceptual Framework for Financial Reporting.
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09/03/2016 - New investor insights into financial reporting
EFRAG and ICAS publish a study on the decision usefulness of financial reporting
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08/03/2016 - EFRAG's Comment Letter and Feedback Statement on the IASB's Exposure Draft ED/2015/8 IFRS Practice Statement: Application of Materiality to Financial Statements
EFRAG has issued its Comment Letter and Feedback Statement on the IASB's Exposure Draft IFRS Practice Statement: Application of Materiality to Financial Statements.
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03/03/2016 - EFRAG’s Final Comment letter to IASB ED/2015/10 Annual Improvements to IFRSs 2014–2016 Cycle
EFRAG has submitted its final comment letter to the IASB on the IASB’s ED/2015/10 Annual Improvements to IFRSs 2014–2016 Cycle
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03/03/2016 - Feedback statement on ED/2015/10 Annual Improvements to IFRSs 2014–2016 Cycle
EFRAG has published a feedback statement following the publication of its final comment letter on the IASB’s ED/2015/10 Annual Improvements to IFRSs 2014–2016 Cycle
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26/02/2016 - Feedback statement on the Draft IFRIC Interpretation Uncertainty over Income Tax Treatments
EFRAG has published a feedback statement following the publication of its final comment letter on the Draft IFRIC Interpretation DI/2015/1 Uncertainty over Income Tax Treatments.
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23/02/2016 - EFRAG’s Response to the IFRS Foundation Trustees’ Invitation to Comment IFRS Taxonomy Due Process
EFRAG has published its response to the IFRS Foundation’s Invitation to Comment IFRS Taxonomy Due Process and the related feedback statement addressing the comment letters EFRAG received.
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15/02/2016 - EFRAG’s Final Comment letter to the IASB ED/2015/11 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts
EFRAG has submitted its comment letter to the IASB on the IASB’s ED/2015/11 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts.
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12/02/2016 - Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture – letter to the European Commission
EFRAG has sent a letter to the European Commission after IASB published revised amendments to IFRS 10 and IAS 28: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture postponing their effective date indefinitely. In this letter, EFRAG brings a number of issues to the European Commission’s attention before it takes a decision on the endorsement process on the two published amendments to IFRS 10 and IAS 28.
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12/02/2016 - EFRAG's Comment Letter on the Draft IFRIC Interpretation Uncertainty over Income Tax Treatments
EFRAG has issued its Comment Letter on the Draft IFRIC Interpretation Uncertainty over Income Tax Treatments
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08/02/2016 - EFRAG's Comment Letter and Feedback Statement on the IASB's Draft Interpretation DI/2015/2 Foreign Currency Transactions and Advance Consideration
EFRAG has issued its Comment Letter and Feedback Statement on the IASB's Draft Interpretation Foreign Currency Transactions and Advance Consideration
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11/01/2016 - Summary report of EFRAG Outreach Event on Conceptual Framework For Financial Reporting in Brussels
EFRAG is pleased to publish a summary report of its outreach event in Brussels on 23 September 2015.
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23/12/2015 - EFRAG's Draft Comment letter to the IASB's Exposure Draft ED/2015/11 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts
EFRAG has published its draft comment letter on the IASB's Exposure Draft ED/2015/11 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 20 January 2016. -
22/12/2015 - EFRAG's comment letters in response to the IASB Exposure Drafts on the Conceptual Framework for Financial Reporting
EFRAG has submitted it comment letters on the IASB Exposure Drafts ED/2015/3 Conceptual Framework for Financial Reporting and ED/2015/4 Updating References to the Conceptual Framework. -
22/12/2015 - EFRAG's comment letters in response to the IASB Exposure Drafts on the Conceptual Framework for Financial Reporting
EFRAG has submitted its comment letters on the IASB Exposure Drafts ED/2015/3 Conceptual Framework for Financial Reporting and ED/2015/4 Updating References to the Conceptual Framework. -
20/12/2015 - Feedback statement for the Joint Outreach Event on the Conceptual Framework and on Materiality in Rome
EFRAG and the Organismo Italiano di Contabilita' (the OIC), the Italian Standards-Setter, have published a feedback statement of their joint outreach event on the IASB Exposure Drafts ED/2015/3 Conceptual Framework for Financial Reporting and ED/2015/8 IFRS Practice Statement: Application of Materiality to Financial Statements. The joint outreach event was held in cooperation with the IASB and took place on 30 November 2015 in Rome. -
20/12/2015 - Summary report of EFRAG - EFFAS - AIAF - IASB Joint Investor Outreach Event on profit or loss (P&L) and other comprehensive income (OCI)
EFRAG, EFFAS, AIAF and the IASB are pleased to publish a summary report of their investor outreach event in Milan on 22 October 2015. In the joint outreach event participants discussed the role of profit or loss (P&L) and other comprehensive income (OCI). -
20/12/2015 - EFRAG's Response to the Trustees' Review of Structure and Effectiveness
EFRAG has published its response to the Request for Views Trustees' Review of Structure and Effectiveness: Issues for Review and the related feedback statement addressing the comment letters EFRAG received. -
17/12/2015 - Feedback statement for the Joint Outreach Event on the Conceptual Framework in Madrid
EFRAG and the Instituto de Contabilidad y Auditoría de Cuentas (ICAC) have published a feedback statement of their joint outreach event on the IASB Exposure Draft ED/2015/3 Conceptual Framework for Financial Reporting. The joint outreach event was held in cooperation with the IASB and took place on 21 September 2015 in Madrid. -
16/12/2015 - EFRAG's draft comment letter on the IASB's Exposure Draft ED/2015/10 Annual Improvements to IFRSs 2014-2016 Cycle
EFRAG has published its draft comment letter in response to the Exposure Draft Annual Improvements to IFRSs 2014-2016 Cycle and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 5 February 2016. -
15/12/2015 - Feedback statement for the Joint Outreach Event on the Conceptual Framework in Oslo
EFRAG and the Norwegian Accounting Standards Board (NASB) have published a feedback statement of their joint outreach event on the IASB Exposure Draft ED/2015/3 Conceptual Framework for Financial Reporting. The joint outreach event was held in cooperation with the IASB and took place on 16 September 2015 in Oslo. -
15/12/2015 - Feedback statement for the Joint Outreach Event on the Conceptual Framework in Vilnius
EFRAG, the Estonian Ministry of Finance, the Latvian Ministry of Finance and the Lithuanian Authority of Audit and Accounting have published a feedback statement of their joint outreach event on the IASB Exposure Draft ED/2015/3 Conceptual Framework for Financial Reporting. The joint outreach event was held in cooperation with the IASB and took place on 23 September 2015 in Vilnius. -
15/12/2015 - Feedback statement for the Joint Outreach Event on the Conceptual Framework in Warsaw
EFRAG and the Polish Accounting Standards Committee (KSR), in cooperation with the World Bank Centre for Financial Reporting Reform, have published a feedback statement of their joint outreach event on the IASB Exposure Draft ED/2015/3 Conceptual Framework for Financial Reporting. The joint outreach event was held in cooperation with the IASB and took place on 30 September 2015 in Warsaw. -
10/12/2015 - EFRAG's draft comment letter on the IASB's ED/2015/9 Transfers of Investment Property
EFRAG issued its draft comment letter on the IASB's Exposure Draft ED/2015/9 Transfers of Investment Property: Proposed Amendment to IAS 40. EFRAG requests comments by 15 March 2016. -
08/12/2015 - EFRAG's report on the findings from the public survey on the expected effects of the introduction of IFRS 16 Leases on financial covenants in loan agreements
EFRAG published a report that summarises the findings from the public survey on the effects of the introduction of IFRS 16 Leases on financial covenants in loan agreements. The public survey was carried out by EFRAG in association with the National Standard Setters of Lithuania, France, Germany, Italy, and the UK (AAT, ANC, DRSC, OIC, FRC). The IASB also participated in this consultation. -
03/12/2015 - Further information related to the endorsement of IFRS 9
EFRAG has sent its letter to the European Commission providing further information related to the endorsement of IFRS 9. -
03/12/2015 - EFRAG's Draft Comment Letter to the IFRS Foundation Trustees' Invitation to Comment IFRS Taxonomy Due Process
EFRAG has published its draft comment letter on the IFRS Foundation's Invitation to Comment IFRS Taxonomy Due Process and seeks constituents' views. Comments on our draft comment letter are requested by 30 January 2016. -
30/11/2015 - Letter to the European Commission explaining how EFRAG has reached its conclusion that IFRS 9 Financial Instruments is not contrary to the true and fair principle.
Upon the request of the European Commission, EFRAG has issued a letter to further explain how it has reached the conclusion contained in its endorsement advice that IFRS 9 Financial Instruments is not contrary to the true and fair principle. -
27/11/2015 - EFRAG's draft comment letter on the IASB's Exposure Draft ED/2015/8 IFRS Practice Statement: Application of Materiality to Financial Statements
EFRAG has published its draft comment letter in response to the Draft IFRS Practice Statement: Application of Materiality to Financial Statements and seeks constituents' views on the proposals. Comments on the draft comment letter and inputs to the questions in it are requested by 15 February 2016. -
26/11/2015 - Feedback statement for the Joint Outreach Event on the Conceptual Framework in Amsterdam
EFRAG and the Dutch Accounting Standards Board (DASB) have published a feedback statement of their joint outreach event on the IASB Exposure Draft ED/2015/3 Conceptual Framework for Financial Reporting. The joint outreach event was held in cooperation with the IASB and took place on 5 October 2015 in Amsterdam. -
26/11/2015 - Feedback statement for the Joint Outreach Event on the Conceptual Framework in Paris
EFRAG and the Autorité des Normes Comptables (ANC) have published a feedback statement of their joint outreach event on the IASB Exposure Draft ED/2015/3 Conceptual Framework for Financial Reporting. The joint outreach event was held in cooperation with the IASB and took place on 14 September 2015 in Paris. -
23/11/2015 - Feedback statement on the IASB's Exposure Draft ED/2015/5 Remeasurement on a Plan Amendment, Curtailment or Settlement / Availability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14)
EFRAG published its feedback statement to constituents following the publication of the final comment letter on the IASB's Exposure Draft Remeasurement on a Plan Amendment, Curtailment or Settlement / Availability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14). -
19/11/2015 - Feedback statement for the Joint Outreach Event on the Conceptual Framework in Helsinki
EFRAG, the Financial Supervisory Authority, the Ministry of Employment and the Economy and the Confederation of Finnish Industries have published a feedback statement of their joint outreach event on the IASB Exposure Draft ED 2015/3 Conceptual Framework for Financial Reporting. The joint outreach event was held in cooperation with the IASB and took place on 14 October 2015 in Helsinki. -
16/11/2015 - EFRAG's draft comment letter on the Draft IFRIC Interpretation DI/2015/1 Uncertainty over Income Tax Treatments
EFRAG has published its draft comment letter in response to the Draft IFRIC Interpretation DI/2015/1 Uncertainty over Income Tax Treatments and seeks constituents' views on the proposals. Comments on the draft comment letter and inputs to the request in a separate Appendix are requested by 13 January 2016. -
16/11/2015 - Feedback Statement on the ED/2015/7 Effective Date of Amendments to IFRS 10 and IAS 28
EFRAG has published a feedback statement following the publication of its final comment letter on the IASB's Exposure Draft Effective Date of Amendments to IFRS 10 and IAS 28. -
11/11/2015 - EFRAG's Draft Comment Letter on the IASB's Draft Interpretation DI/2015/2 Foreign Currency Transactions and Advance Consideration
EFRAG has issued its Draft Comment Letter on the IASB's Draft Interpretation Foreign Currency Transactions and Advance Consideration. -
09/11/2015 - IFRS 9 and IFRS 4: further information related to the endorsement of IFRS 9
EFRAG asks for your input by noon on 20 November 2015 -
09/11/2015 - EFRAG's Comment Letter on the IASB's ED/2015/6 Clarifications to IFRS 15
EFRAG has issued its comment letter on the IASB's Exposure Draft Clarifications to IFRS 15. -
07/11/2015 - EFRAG provides its preliminary views on the IASB Exposure Draft Conceptual Framework for Financial Reporting
In July 2015, EFRAG launched its public consultation on the IASB Exposure Draft 'Conceptual Framework for Financial Reporting', without having fully deliberated preliminary views. EFRAG is now providing its preliminary views on the Exposure Draft. -
05/11/2015 - EFRAG's comment letter on the IASB's Exposure Draft ED/2015/5 Remeasurement on a Plan Amendment, Curtailment or Settlement / Availability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14)
EFRAG issues its comment letter on the IASB's Exposure Draft ED/2015/5 Remeasurement on a Plan Amendment, Curtailment or Settlement / Availability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14). -
04/11/2015 - EFRAG/IASB Outreach event IASB Agenda Consultation and Trustees Review in Denmark
On Wednesday 25 November, the Confederation of Danish Industry (DI) and FSR (Danish Auditors), together with EFRAG and the IASB, invite you to participate in a joint outreach event in Copenhagen on the 2015 IASB Agenda Consultation, the Trustees Review and EFRAG's own proactive Agenda Consultation. -
22/10/2015 - EFRAG's Comment Letter on the IASB's ED/2015/7 Effective Date of Amendments to IFRS 10 and IAS 28
EFRAG has issued its Comment Letter on the IASB's Exposure Draft Effective Date of Amendments to IFRS 10 and IAS 28. -
21/10/2015 - Help shape the future of IFRS! What should EFRAG, the ANC and the IASB focus on before 2020?
On Thursday 12 November, EFRAG, the ANC and the IASB invite you to participate in a joint outreach event in Paris on the 2015 IASB Agenda Consultation and EFRAG's own proactive Agenda Consultation. -
17/10/2015 - EFRAG publishes a questionnaire on the proposed definitions of assets and liabilities
In order to test whether the definitions proposed in the IASB Exposure Draft on the Conceptual Framework are understandable, EFRAG asks you to assess whether nine arrangements give rise to items that would meet the definitions. -
11/10/2015 - Joint Investor Outreach Event on P&L and IFRS 9 - Milan - Programme available!
EFRAG, the European Federation of Financial Analysts Societies (EFFAS), the Italian Association of Financial Analysts (AIAF) and the IASB organise a joint outreach event to be held in Milan on Thursday 22 October 2015. -
05/10/2015 - Joint Outreach Event on the Revision to the Conceptual Framework in Helsinki
EFRAG publishes the agenda for the joint outreach event in Helsinki on Wednesday 14 October 2015. -
04/10/2015 - EFRAG's Draft Response to the Trustees' Review of Structure and Effectiveness
EFRAG has published its draft response to the Request for Views Trustees' Review of Structure and Effectiveness: Issues for the Review of July 2015 and seeks constituents' views. Comments on the draft letter are requested by 30 November 2015. -
30/09/2015 - EFRAG seeks your input as to what research is important for Europe
EFRAG has launched its own Proactive Agenda Consultation in parallel with the IASB's 2015 Agenda Consultation to ensure that EFRAG is allocating resources in an optimal way to research work on important topics for Europe. EFRAG is seeking constituents' views by 30 November 2015. -
28/09/2015 - Joint Investor Outreach Event on P&L and IFRS 9 - Milan
EFRAG, the European Federation of Financial Analysts Societies (EFFAS), the Italian Association of Financial Analysts (AIAF) and the IASB organise a joint outreach event to be held in Milan on Thursday 22 October 2015. -
28/09/2015 - EFRAG extends the comment period for its documents for public consultation related to the Conceptual Framework
EFRAG has extended the comment period for the documents for public consultation relating to the IASB Exposure Draft Conceptual Framework for Financial Reporting. The revised deadline for comments is 18 November 2015. -
20/09/2015 - Last seats! EFRAG Conference: Conceptual Framework for Financial Reporting - will it meet European expectations?
EFRAG invites you to participate in a conference on the Conceptual Framework for Financial Reporting on 23 September 2015 in Brussels. Look at the programme and contribute to this important topic on the EFRAG Agenda! -
14/09/2015 - EFRAG Endorsement Advice on IFRS 9 Financial Instruments
EFRAG has completed its due process regarding IFRS 9 Financial Instruments and has submitted its Endorsement Advice Letter to the European Commission. -
09/09/2015 - EFRAG Conference: Conceptual Framework for Financial Reporting - will it meet European expectations? Full programme
EFRAG invites you to participate in a conference on the Conceptual Framework for Financial Reporting on 23 September 2015 in Brussels. The full programme is now available! -
08/09/2015 - Summary report of EFRAG - EFFAS/ABAF - IASB Joint Investor Outreach Event on profit or loss (P&L) and other comprehensive income (OCI)
EFRAG, EFFAS/ABAF and the IASB are pleased to publish a summary report of their investor outreach event held on 1 July 2015. In the joint outreach event participants discussed the role of profit or loss (P&L) and other comprehensive income (OCI). -
07/09/2015 - EFRAG's draft comment letter on the IASB's Exposure Draft ED/2015/7 Effective Date of Amendments to IFRS 10 and IAS 28
EFRAG has published its draft comment letter in response to the IASB' ED/2015/7 Effective Date of Amendments to IFRS 10 and IAS 28 and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 8 October 2015. -
07/09/2015 - Joint Outreach Event on the Conceptual Framework - Vilnius
EFRAG, the Estonian Ministry of Finance, the Latvian Ministry of Finance, the Lithuanian Authority of Audit and Accounting (AAT) and the IASB announce a joint outreach event to be held in Vilnius on Wednesday 23 September 2015. -
07/09/2015 - Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture - Recommendation to further postpone the Endorsement Process
EFRAG has recommended to the European Commission to further postpone the endorsement process on the amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture until the IASB finalises its due process on its proposals to amend the effective date of the amendments to IFRS 10 and IAS 28. -
03/09/2015 - EFRAG Conference: Conceptual Framework for Financial Reporting - will it meet European expectations? Speaker Panel
EFRAG invites you to participate in a conference on the Conceptual Framework for Financial Reporting on 23 September 2015 in Brussels. Discover the speaker panel! -
03/09/2015 - Joint Outreach Event on the Revision to the Conceptual Framework - Paris
EFRAG, the French Accounting Standards Authority (ANC) and the IASB announce a joint outreach event to be held in Paris on Monday 14 September 2015. -
03/09/2015 - EFRAG's draft comment letter on the IASB's Exposure Draft ED/2015/6 Clarifications to IFRS 15
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2015/6 Clarifications to IFRS 15 and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 22 October 2015. -
02/09/2015 - Joint Outreach Event on the Revision to the Conceptual Framework - Helsinki
EFRAG, the Financial Supervisory Authority, the Ministry of Employment and the Economy, the Confederation of Finnish Industries EK and the IASB announce a joint outreach event to be held in Helsinki on Wednesday 14 October 2015. -
19/08/2015 - Conference: Conceptual Framework for Financial Reporting - will it meet European expectations?
EFRAG invites you to participate in a conference on the Conceptual Framework for Financial Reporting on 23 September 2015 in Brussels. -
09/08/2015 - EFRAG's draft comment letter on the IASB's ED/2015/4 Updating References to the Conceptual Framework (Proposed amendments to IFRS 2, IFRS 3, IFRS 4, IFRS 6, IAS1, IAS 8, IAS 34, SIC-27 and SIC-32)
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2015/4 Updating References to the Conceptual Framework (Proposed amendments to IFRS 2, IFRS 3, IFRS 4, IFRS 6, IAS 1, IAS 8, IAS 34, SIC-27 and SIC-32) and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 26 October 2015. -
05/08/2015 - Joint Outreach Event on the Revision to the Conceptual Framework - Warsaw
EFRAG, the Polish Accounting Standards Committee (KSR) and the IASB, in cooperation with the World Bank, announce a joint outreach event to be held in Warsaw on Wednesday 30 September 2015. -
03/08/2015 - EFRAG has published a feedback report on the results of the pre-endorsement questionnaire on IFRS 9
EFRAG has published a feedback report on the results of the pre-endorsement questionnaire on IFRS 9. The input was used by EFRAG in developing its (draft) endorsement advice for the European Commission on IFRS 9 Financial Instruments. -
30/07/2015 - Joint Outreach Event on the Revision to the Conceptual Framework - Amsterdam
EFRAG, the Dutch Accounting Standards Board and the IASB announce a joint outreach event to be held in Amsterdam on 5 October 2015. -
29/07/2015 - EFRAG has published a feedback statement on input received during the individual insurance specialist user outreach on the potential deferral IFRS 9 effective date for insurers
EFRAG has published a feedback statement that summarises the input received during the individual insurance specialist user outreach on the potential deferral of IFRS 9 effective date for insurers. This input is used by EFRAG in developing its Final Endorsement Advice for the European Commission on IFRS 9 Financial Instruments. -
29/07/2015 - Joint Outreach Event on the Conceptual Framework - Madrid
EFRAG, the Spanish Institute for Accounting and Auditing (ICAC) and the IASB announce a joint outreach event to be held in Madrid on Monday 21 September 2015. -
28/07/2015 - Effect of the deferral of the IFRS 15 effective date on EFRAG's endorsement advice
EFRAG has informed the European Commission that the IASB has deferred the effective date of IFRS 15. -
28/07/2015 - Feedback statement on the IASB's ED/2015/1 Classification of Liabilities - Proposed amendments to IAS 1
EFRAG has published a feedback statement following the publication of its final comment letter on the IASB's Exposure Draft Classification of Liabilities - Proposed amendments to IAS 1. -
23/07/2015 - EFRAG's draft comment letter on the IASB's Exposure Draft ED/2015/5 Remeasurement on a Plan Amendment, Curtailment or Settlement / Availability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14)
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft ED/2015/5 Remeasurement on a Plan Amendment, Curtailment or Settlement / Availability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14) and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 9 October 2015. -
22/07/2015 - EFRAG Endorsement Advice of Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and IAS 28)
EFRAG has completed its due process regarding Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and IAS 28) and has submitted its Endorsement Advice Letter to the European Commission. -
21/07/2015 - EFRAG, the IASB and the National Standard Setters AAT, ANC, ASCG, FRC and OIC invite companies to participate in a public survey on impact of the forthcoming new IFRS on Leases on financial covenants in loan agreements
The IASB has completed its redeliberations in regard to the proposed new lease accounting requirements. The new IFRS on Leases is expected to be issued before the end of 2015. It will require lessees to recognise assets and liabilities for all identified leases. The amount of newly recognised lease liabilities is expected to be significant for many entities. Therefore, questions have been raised about the possible impact of the new IFRS on financial covenants in loan agreements that refer to measures of debt, net financial position or similar indicators.EFRAG, the IASB and the National Standard Setters are performing this public survey to acquire quantitative and qualitative information about how covenants are determined in Europe. -
15/07/2015 - EFRAG requests extension of the comment period on the Conceptual Framework Exposure Draft
EFRAG has requested the IASB to extend the comment period related to the Exposure Draft Conceptual Framework for Financial Reporting until 26 December 2015. -
14/07/2015 - EFRAG Short Discussion Series - The Statement of Cash Flows: issues for Financial Institutions
EFRAG has published a paper in the Short Discussion Series. This paper discusses the relevance of the Statement of Cash Flows for financial institutions and investigates alternatives that could either supplement or replace the information currently portrayed by these entities in the Statement of Cash Flows. -
13/07/2015 - EFRAG publishes a Bulletin on profit or loss versus OCI
EFRAG has published a Bulletin to contribute to the discussion on what items should be reported in profit or loss and what items should be reported as items of other comprehensive income. The Bulletin is published to help form European views that are influential in the debate on the IFRS Conceptual Framework. -
09/07/2015 - Joint Outreach Event on the Conceptual Framework - Oslo
EFRAG, the Norwegian Accounting Standards Board (NRS) and the IASB announce a joint outreach event to be held in Oslo on Wednesday 16 September 2015. -
07/07/2015 - EFRAG document for public consultation on the IASB ED Conceptual Framework for Financial Reporting
EFRAG has published a document for public consultation on the IASB Exposure Draft Conceptual Framework for Financial Reporting. Comments are requested by 26 October 2015. -
01/07/2015 - EFRAG comment letter on the IASB's ED Effective Date of IFRS 15
EFRAG has published its comment letter in response to the IASB Exposure Draft Effective Date of IFRS 15 (Proposed amendments to IFRS 15). EFRAG supports the proposal of the Exposure Draft. -
21/06/2015 - EFRAG's comment letter on the IASB's ED/2015/1 Classification of Liabilities - Proposed amendments to IAS 1
EFRAG has published its comment letter in response to the IASB's Exposure Draft Classification of Liabilities - Proposed amendments to IAS 1. -
15/06/2015 - EFRAG requests a public fatal flaw review of the forthcoming Leases Standard
EFRAG has sent a letter to the IASB requesting a public fatal flaw review of the forthcoming Leases Standard. -
03/06/2015 - Feedback statement on the IASB's Exposure Draft ED/2014/6 Disclosure Initiative (Proposed amendments to IAS 7)
EFRAG has published a feedback statement following the publication of its final comment letter on the IASB's Exposure Draft Disclosure Initiative (Proposed amendments to IAS 7). -
19/05/2015 - EFRAG draft comment letter on the IASB's ED Effective Date of IFRS 15 (Proposed amendments to IFRS 15)
EFRAG has published its draft comment letter in response to the IASB Exposure Draft Effective Date of IFRS 15 (Proposed amendments to IFRS 15) and seeks constituents' views on the proposal. Comments on the draft comment letter are requested by 25 June 2015. -
18/05/2015 - EFRAG Endorsement Advice on Disclosure Initiative - Amendments to IAS 1
EFRAG has completed its due process regarding Disclosure Initiative - Amendments to IAS 1 and has submitted its Endorsement Advice Letter to the European Commission. -
10/05/2015 - EFRAG's comment letter on the IASB's ED/2014/6 Disclosure Initiative (Proposed amendments to IAS 7)
EFRAG has published its comment letter in response to the IASB's Exposure Draft Disclosure Initiative (Proposed amendments to IAS 7). -
10/05/2015 - EFRAG requests comments on its draft endorsement advice on the Amendments to IFRS 10, IFRS 12 and IAS 28
EFRAG has issued a draft endorsement advice letter (with supporting appendices) and a separate invitation to comment relating to the endorsement for use in the EU of Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and IAS 28) (the Amendments). EFRAG is consulting on both its assessment of the Amendments against the technical criteria in the EU and on its assessment of whether the Amendments are conducive to the European public good. -
04/05/2015 - EFRAG requests comments on its draft endorsement advice on IFRS 9 Financial Instruments
EFRAG has issued a draft endorsement advice letter (with supporting appendices) and a separate Invitation to Comment relating to the endorsement for use in the EU of IFRS 9 Financial Instruments (the Standard). EFRAG is consulting on both its assessment of the Standard against the technical criteria in the EU and on its assessment of whether IFRS 9 is conducive to the European public good (which includes the costs and benefits associated with implementing the Standard).
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14/04/2015 - Feedback statement on the IASB's Exposure Draft ED/2014/5 Classification and Measurement of Share-based Payment Transactions (Proposed amendments to IFRS 2)
EFRAG has published a feedback statement following the publication of its final comment letter on the IASB's Exposure Draft Classification and Measurement of Share-based Payment Transactions. -
14/04/2015 - EFRAG publishes a feedback statement on responses to its Discussion Paper Separate Financial Statements
EFRAG published today a feedback statement summarising the main messages from respondents to the discussion paper on separate financial statements -
01/04/2015 - EFRAG's comment letter on the IASB's ED/2014/5 - Classification and Measurement of Share-based Payment Transactions - Proposed amendments to IFRS 2
EFRAG has published its comment letter in response to the IASB's Exposure Draft Classification and Measurement of Share-based Payment Transactions - Proposed amendments to IFRS 2. -
01/04/2015 - Feedback statement on the IASB's Discussion Paper DP/2014/2 Reporting the Financial Effects of Rate Regulation
EFRAG has published a feedback statement following the publication of its final comment letter on Reporting the Financial Effects of Rate Regulation -
30/03/2015 - EFRAG publishes a feedback statement of the responses to the Discussion Paper 'Classification of Claims'.
EFRAG published today a feedback statement summarising the main messages from respondents to EFRAG's Discussion Paper which discusses the credit side of the balance sheet and the classification of the claims on an entity. -
23/03/2015 - EFRAG's draft comment letter on the IASB's ED/2015/1 Classification of Liabilities - Proposed amendments to IAS 1
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft Classification of Liabilities - Proposed amendments to IAS 1 and seeks constituents' views on the proposals. Comments on the draft comment letter are requested by 3 June 2015. -
19/03/2015 - Feedback statement on the IASB's ED/2014/4 Measuring Quoted Investments in Subsidiaries, Joint Ventures and Associates at Fair Value
EFRAG publishes a feedback statement following the publication of its final comment letter on the proposed amendments to IFRS 10, IFRS 12, IAS 27, IAS 28, IAS 36 and IFRS 13: Unit of Account. -
17/03/2015 - EFRAG Endorsement Advice on IFRS 15 Revenue from Contracts with Customers
EFRAG has completed its due process regarding IFRS 15 Revenue from Contracts with Customers and has submitted its Endorsement Advice Letter to the European Commission. -
26/02/2015 - EFRAG requests comments on its Draft Endorsement Advice on Disclosure Initiative - Amendments to IAS 1
EFRAG has issued an Invitation to Comment relating to the endorsement for use in the EU of Disclosure Initiative - Amendments to IAS 1 (the Amendments). It is consulting both on its assessment of the Amendments against the technical criteria for the endorsement in the EU and on its initial assessment of the costs and benefits that would arise from their implementation and application in the EU. Comments are requested by 27 March 2015. -
23/02/2015 - Summary report of EFRAG - EFFAS/ABAF - IASB Joint User Event on Rate-regulated Activities
EFRAG, EFFAS/ABAF and the IASB are pleased to publish a summary report of their fourth user event held on 18 December 2014. The joint user event discussed the IASB Discussion Paper Reporting the Financial Effects of Rate Regulation. -
17/02/2015 - Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture - Recommendation to postpone the Endorsement Process
EFRAG has recommended to the European Commission to postpone the endorsement process on the amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture until the IASB's project on Elimination of gains or losses arising from transactions between an entity and its associate or joint venture is completed. -
11/02/2015 - EFRAG has published a feedback statement on input received during outreach activities conducted with European users on the IASB's Discussion Paper Reporting the Financial Effects of Rate Regulation
EFRAG has issued a feedback statement that summarises the views expressed by European users during the outreach activities on the IASB's Discussion Paper Reporting the Financial Effects of Rate Regulation. -
10/02/2015 - EFRAG's draft comment letter on the IASB's ED/2014/6 Disclosure Initiative (Proposed amendments to IAS 7)
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft Disclosure Initiative (Proposed amendments to IAS 7) and seek for constituents' views on the proposals in the exposure draft. Responses to the draft comment letter and to the questions in it are requested by 16 April 2015. -
03/02/2015 - EFRAG, the OIC and the ASBJ have published a feedback statement that summarises the responses received on the Discussion Paper "Should Goodwill Still Not Be Amortised? - Accounting and Disclosure for Goodwill
EFRAG, the Italian Standard Setter (OIC) and Accounting Standard Board of Japan (ASBJ) jointly published a feedback statement summarising comments received on the Discussion Paper "Should Goodwill Still Not Be Amortised? - Accounting and Disclosure for Goodwill. -
03/02/2015 - EFRAG's Final Endorsement Advice on the Annual Improvements to IFRSs 2012-2014 Cycle
EFRAG has completed its due process regarding the Annual Improvements to IFRSs 2012-2014 Cycle and has submitted its Endorsement Advice Letter to the European Commission. -
01/02/2015 - EFRAG extends comments deadline on its draft comment letter on the IASB's ED/2014/5 - Classification and Measurement of Share-based Payment Transactions - Proposed amendments to IFRS 2
EFRAG has decided to extend its own comments deadline to allow all interested stakeholders more time to respond to its draft comment letter on the IASB's Exposure Draft Classification and Measurement of Share-based Payment Transactions. Comments deadline is extended to 9 March 2015. -
19/01/2015 - EFRAG's letter to the IFRS Interpretations Committee on tentative agenda decisions relating to IFRS 11
EFRAG published a letter to the IFRS Interpretations Committee on tentative agenda decisions relating to IFRS 11. -
18/01/2015 - Feedback statement on EFRAG Letter to the IASB on Accounting for Dynamic Risk Management: a Portfolio Revaluation Approach to Macro Hedging
EFRAG has published a feedback statement summarising comments in response to the EFRAG Draft Letter to the IASB on Accounting for Dynamic Risk Management -
15/01/2015 - EFRAG's comment letter on the IASB's Discussion Paper Reporting the Financial Effects of Rate Regulation
EFRAG has published its comment letter in response to the IASB's Discussion Paper Reporting the Financial Effects of Rate Regulation. -
14/01/2015 - Share your experience on IAS 8 and contribute to the surveys launched by the OIC (the Italian Standard Setter)!
The Italian Standard Setter Organismo Italiano di Contabilità (the OIC) launches two surveys on IAS 8 Accounting policies, Changes in Accounting Estimates and Errors. European constituents are invited to respond to the OIC. -
14/01/2015 - EFRAG's comment letter on the IASB's ED/2014/4 - Proposed amendments to IFRS 10, IFRS 12, IAS 27, IAS 28, IAS 36 and IFRS 13: Unit of Account
EFRAG has published its comment letter in response to the IASB's Exposure Draft ED/2014/4. -
07/01/2015 - EFRAG's final comment letter on the IASB proposed amendments to IAS 12 Recognition of Deferred Tax Assets for Unrealised Losses
EFRAG has published its final comment letter in response to the IASB Exposure Draft ED/2014/3 Recognition of Deferred Tax Assets for Unrealised Losses (Proposed Amendments to IAS 12) -
18/12/2014 - EFRAG's Final Endorsement Advice on IAS 27 - Equity Method in Separate Financial Statements
EFRAG has completed its due process regarding the amendments to IAS 27 Equity Method in Separate Financial Statements (The Amendments) and has submitted its Endorsement Advice Letter to the European Commission. -
15/12/2014 - EFRAG's draft comment letter on the IASB's ED/2014/5 - Classification and Measurement of Share-based Payment Transactions - Proposed amendments to IFRS 2
EFRAG has published its draft comment letter in response to the IASB's Exposure Draft Classification and Measurement of Share-based Payment Transactions. Responses to the draft comment letter are requested by 30 January 2015. -
06/11/2014 - EFRAG - EFFAS/ABAF - IASB User Event: Rate-regulated activities: is there anything missing from the balance sheet?
EFRAG, EFFAS/ABAF and the IASB announce a new joint event for the User Community, taking place on 18 December in Brussels.