EFRAG summary report of the field-test workshop with corporates on 7 July 2020
EFRAG, in close coordination with European National Standard Setters and the IASB, is conducting field-tests of the IASB proposals included in the Exposure Draft ED/2019/7 General Presentation and Disclosures (ED), published in December 2019.
The purpose of the field-test is to identify potential implementation and application concerns, determine whether there is a need for additional guidance and estimate the effort required to implement and apply the proposals.
The participants involved were asked to apply the IASB proposals to their financial statements and answer a questionnaire from EFRAG and the IASB. The results were discussed in a workshop on 7 July 2020.
This summary report has been prepared for the convenience of European constituents to summarise the input from the workshop and will be further considered by the involved organisations in the respective due process on the IASB proposals.