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 the Exposure Draft on General
Presentation and Disclosures by approximately three months.

EFRAG has adjusted its timelines accordingly, considering the priorities of its stakeholders
during the pandemic and has 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. Despite the difficult times, EFRAG
encourages companies and financial institutions to participate, to the extent
possible, in the field-tests on the IASB’s ED. EFRAG will allow flexibility in
terms of communication and timing and adapt to the individual company’s
circumstances. Close coordination with the IASB is ensured. If you would
like to participate in the field-tests, kindly send an email to info@efrag.org by 31 July 2020. 

EFRAG is organising jointly with the FSR – Danish Auditors, the Confederation of Danish Industry (DI) and the IASB an outreach event on 14 May from 9.30 to12.00. More information can be found here.

On 19 and 26 May 2020 user outreach events organised jointly by EFRAG, EFFAS, ABAF/BVFA and IASB will take place from 17.00 hrs till 18.15. The 19 May event focuses on presentation issues: more information can be found here.  The 26 May event focuses on disclosure issues: more information can be found here.

To collect input from the community of interested preparers that
under the present circumstances are unable to participate in the field-tests,
EFRAG is planning an online event on 1 September 2020.