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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.


In December 2016, the IASB issued Annual Improvements to IFRS Standards 2014–2016 Cycle, a collection of amendments to IFRSs, in response to three issues addressed during the 2014-2016 cycle.

The Amendments reflect issues discussed by the IASB during the project cycle that began in 2014, and that were published in November 2015 in the Exposure Draft ED/2015/10 Annual Improvements to IFRSs 2014–2016 Cycle. The amendments are effective for annual periods beginning on or after 1 January 2017 and 1 January 2018 although entities are permitted to apply them earlier.

EFRAG has submitted its Endorsement Advice relating to the Amendments for use in the European Union and European Economic Area. EFRAG assesses that the Amendments meet all technical endorsement criteria of the IAS Regulation and are conducive to the European public good. It therefore recommends their endorsement. EFRAG's recommendation is explained in the letter to the European Commission and the accompanying appendices.

The Endorsement Advice Letter to the European Commission can be found here.

EFRAG has also updated its Endorsement Status Report, which can be downloaded here on EFRAG's web page.