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06/02/2017 - EFRAG requests comments on its draft endorsement advice on the Annual Improvements to IFRS Standards 2014-2016 Cycle

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 17 March 2017.


​In December 2016, the IASB issued Annual Improvements to IFRS Standards 2014–2016 Cycle (the Amendments), 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 issued an Invitation to Comment relating to the endorsement of the Amendments for use in the European Union and European Economic Area. 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 the implementation and application of the Amendments in the EU.

EFRAG's initial assessment is that the Amendments satisfy the technical criteria for EU endorsement and EFRAG should therefore recommend their endorsement.

Comments are requested by 17 March 2017.

The draft endorsement advise is available here and the invitation to comment here.

EFRAG has also updated its Endorsement Status Report, which can be downloaded here.