31/05/2022 - EFRAG issues the set of Basis for conclusions of its ESRS Exposure Drafts

On 29 April 2022, EFRAG issued its EDs with a deadline of 8 August 2022, inviting all stakeholders to provide comments on them through a consultation survey (for the 29 April 2022 press release, please click here).

EFRAG now issues the set of Basis for conclusions ('BfC') to supplement the EDs. The BfC accompanies but is not part of the EDs and, as such, its content has no authoritative status.

It illustrates the objective and context of the draft standards, the process followed in the preparation of the EDs, the reasons to mandate a disclosure requirement, the references to other standard-setting initiatives or European or other relevant regulations and, where appropriate, the argument supporting the need for granular guidance, the disclosure requirements considered and finally not included in the EDs and how the content of the EDs relate to the future standard setting activity.

The BfC are as well a useful source of information and reasoning for those who wish to comment on the EDs.

Respondents to the EDs should provide their response to the public consultation questions by using the online survey (please click here for the link to sections 1 and 2 of the public consultation, and here for the link to section 3 of the public consultation). Comments that do not address the specific aspects covered by the questions listed in the online survey, such as general comments, may be sent in the form of comment letters, preferably by uploading the letters on the survey tool.

EFRAG takes this occasion to again thank all PTF-ESRS members and observers, the EFRAG Secretariat, including its members seconded from other organisations, as well as GRI, Shift and WICI acting in cooperation with the PTF-ESRS for their collaboration and valuable input to the development of the EDs and the BfC.

Access the BfC and the EDs of Draft ESRS and the online survey here.