News type icon

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.

​EFRAG has issued a draft endorsement advice letter and a separate invitation to comment relating to the endorsement for use in the EU of Disclosure Initiative - Amendments to IAS 7 (the Amendments).

The objective of the Amendments is to provide disclosures that enable users of financial statements to evaluate changes in liabilities arising from financing activities, including both changes arising from cash flows and non-cash changes.

The Amendments become effective for annual periods beginning on or after 1 January 2017, with earlier application permitted.

EFRAG's overall preliminary assessment is that the Amendments satisfy the criteria for endorsement for use in the EU and therefore recommends their endorsement.

EFRAG is seeking comments on all aspects of its analyses supporting its preliminary conclusions.

The draft endorsement advice can be found here and the invitation to comment here.

Comments are requested by 13 May 2016. You can comment on EFRAG’s draft endorsement advice by clicking on the ‘Comment publication’ link below.

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