NEW DEADLINE | EFRAG questionnaire on objective based disclosure open until 30 November

​In response to stakeholders' feedback on an overall disclosure problem, the IASB published the Exposure Draft ("ED") Disclosure Requirements in IFRS Standards—A Pilot Approach. In the ED, the IASB proposes a new approach to developing disclosure requirements in individual Standards (proposed Guidance for the IASB) which requires the companies to use an objectives-based approach only.  

In its Draft Comment Letter in response to the IASB's exposure draft, EFRAG recommended that a comprehensive outreach and field testing of the proposals are undertaken to assess the operational challenges for preparers which led EFRAG to the publication of the questionnaire.

The questionnaire is designed for small and medium entities but responses from all kinds of entities  are highly welcomed. Respondents may reply to the questionnaire through the online version here  or by completing and sending the word document by email to disclosureinitiative-pilot@efrag.org. A word version of the questionnaire can be downloaded here.  

Respondents may also provide their qualitative comments in the questionnaire using European languages other than English. 

For more details and more information on the exposure draft and the questionnaire we refer to the original news item issued on 6 October here and the reminder news item issued on 3 November here.