Reminder – Please respond to the EFRAG Draft Comment Letter on the IASB's Exposure Draft Annual Improvements - Volume 11 by 28 November

EFRAG reminds its constituents that comments to its DCL on the Annual Improvements—Volume 11 can be submitted until 28 November 2023.

In its DCL EFRAG welcomes the package of the annual improvements included in the ED and agrees with the majority of the proposed amendments. In EFRAG's view, they would improve consistent application and understandability of the IFRS Accounting Standards.

However, EFRAG disagrees with the IASB's proposed amendment to IFRS 9 on derecognition of lease liabilities and recommends the IASB to clarify the interaction between IFRS 9 and IFRS 16 as part of a narrow-scope standard-setting project.

EFRAG's Draft Comment Letter can be found here.