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News Archive

22/07/2016 New EFRAG website

EFRAG's new website is available at www.efrag.org

01/04/2016 Measurement in the IFRS Conceptual Framework

EFRAG contributes paper on Measurement for discussion at ASAF

30/03/2016 EFRAG Update - March

The March 2016 edition of the EFRAG Update, summarising public technical discussions held and decisions taken during that month, has been published and can be downloaded below. Previous publications of the EFRAG Update can be found on the EFRAG Website.

25/03/2016 EFRAG's comment letter and feedback statement on the IASB's ED/2015/9 Transfers of Investment Property

EFRAG issued its comment letter and feedback statement on the IASB's Exposure Draft ED/2015/9 Transfers of Investment Property: Proposed Amendment to IAS 40.

18/03/2016 Summary of responses on questionnaire on assets and liabilities

EFRAG publishes a summary of the responses received on the questionnaire on the proposed definitions of an asset and of a liability.

14/03/2016 Feedback Statement on EFRAG Draft Comment Letter in response to ED/2015/3 Conceptual Framework for Financial Reporting

EFRAG has published a feedback statement following the publication of its comment letter on the IASB Exposure Draft Conceptual Framework for Financial Reporting.

14/03/2016 Feedback statement on Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts

EFRAG has published a feedback statement following the publication of its final comment letter on the Exposure Draft ED/2015/11 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts

09/03/2016 New investor insights into financial reporting

EFRAG and ICAS publish a study on the decision usefulness of financial reporting.

08/03/2016 EFRAG's Comment Letter and Feedback Statement on the IASB's Exposure Draft ED/2015/8 IFRS Practice Statement: Application of Materiality to Financial Statements

EFRAG has issued its Comment Letter and Feedback Statement on the IASB's Exposure Draft IFRS Practice Statement: Application of Materiality to Financial Statements.

03/03/2016 EFRAG’s Final Comment letter to IASB’s ED/2015/10 Annual Improvements to IFRSs 2014–2016 Cycle

EFRAG has submitted its comment letter to the IASB on the IASB’s ED/2015/10 Annual Improvements to IFRSs 2014–2016 Cycle

03/03/2016 Feedback statement on ED/2015/10 Annual Improvements to IFRSs 2014–2016 Cycle

EFRAG has published a feedback statement following the publication of its final comment letter on the IASB’s ED/2015/10 Annual Improvements to IFRSs 2014–2016 Cycle

03/03/2016 EFRAG Board Meeting Tuesday 8 March 2016

EFRAG announces that it will hold its EFRAG Board meeting on Tuesday 8 March 2016.

02/03/2016 EFRAG Update - February

The February 2016 edition of the EFRAG Update, summarising public technical discussions held and decisions taken during that month, has been published and can be downloaded below. Previous publications of the EFRAG Update can be found on the EFRAG Website.

26/02/2016 Feedback statement on the Draft IFRIC Interpretation DI/2015/1 Uncertainty over Income Tax Treatments

EFRAG has published a feedback statement following the publication of its final comment letter on the Draft IFRIC Interpretation DI/2015/1 Uncertainty over Income Tax Treatments

23/02/2016 EFRAG’s Response to the IFRS Foundation Trustees’ Invitation to Comment IFRS Taxonomy Due Process

EFRAG has published its response to the IFRS Foundation’s Invitation to Comment IFRS Taxonomy Due Process and the related feedback statement addressing the comment letters EFRAG received.

15/02/2016 EFRAG’s Final Comment letter to the IASB ED/2015/11 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts

EFRAG has submitted its comment letter to the IASB on the IASB’s ED/2015/11 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts.

12/02/2016 EFRAG's Comment Letter on the Draft IFRIC Interpretation DI/2015/1 Uncertainty over Income Tax Treatments

EFRAG has issued its Comment Letter on the Draft IFRIC Interpretation Uncertainty over Income Tax Treatments

12/02/2016 Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture – letter to the European Commission

EFRAG has sent a letter to the European Commission after IASB published revised amendments to IFRS 10 and IAS 28: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture postponing their effective date indefinitely. In this letter, EFRAG brings a number of issues to the European Commission’s attention before it takes a decision on the endorsement process on the two published amendments to IFRS 10 and IAS 28.

08/02/2016 EFRAG's Comment Letter and Feedback Statement on the IASB's Draft Interpretation DI/2015/2 Foreign Currency Transactions and Advance Consideration

EFRAG has issued its Comment Letter and Feedback Statement on the IASB's Draft Interpretation Foreign Currency Transactions and Advance Consideration.

05/02/2016 EFRAG Update January

The January 2016 edition of the EFRAG Update, summarising public technical discussions held and decisions taken during that month, has been published and can be downloaded below. Previous publications of the EFRAG Update can be found on the EFRAG Website.

05/02/2016 EFRAG Board Meeting Thursday 11 February 2016

EFRAG announces that it will hold its EFRAG Board meeting on Thursday 11 February 2016.

04/02/2016 EFRAG TEG Meeting Wednesday 24 & Thursday 25 February 2016

EFRAG announces that it will hold its EFRAG TEG meeting on Wednesday 24 and Thursday 25 February 2016.

03/02/2016 EFRAG Board Conference Call Friday 5 February 2016

EFRAG announces that it will hold an EFRAG Board conference call on Friday 5 February from 14.00 to 16.00 hrs CET to discuss EFRAG’s final comment letter on the IASB Exposure Draft Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts.

01/02/2016 Feedback Statement on the Request for Views IASB 2015 Agenda Consultation

EFRAG has published a feedback statement following the publication of its final comment letter on the IASB 2015 Agenda Consultation.

29/01/2016 EFRAG endorsement status report

On 29 January 2016, the IASB issued Amendments to IAS 7: Disclosure Initiative. As a result, EFRAG has updated the EFRAG Endorsement Status Report, which can be downloaded below and under the menu point 'Endorsement Status'.

19/01/2016 EFRAG’s response to the 2015 IASB Agenda Consultation

EFRAG has published its final comment letter in response to the Request for Views of August 2015 IASB Agenda Consultation discussing the main priorities for the IASB’s work plan.

19/01/2016 EFRAG endorsement status report

On 19 January 2016, the IASB issued Amendments to IAS 12 Income Taxes entitled Recognition of Deferred Tax Assets for Unrealised Losses. As a result, EFRAG has updated the EFRAG Endorsement Status Report, which can be downloaded below and under the menu point 'Endorsement Status'.

13/01/2016 Summary report of EFRAG - DI - DASC - IASB Joint Outreach Event on the EFRAG and IASB Agenda Consultation

EFRAG, the Confederation of Danish Industry (DI), the Danish Accounting Standards Committee (DASC) and the IASB are pleased to publish a summary report of their outreach event in Copenhagen on 25 November 2015. In the outreach event participants discussed the EFRAG and IASB Agenda Consultation

13/01/2016 EFRAG Board Meeting Thursday 14 January 2016

EFRAG announces that it will hold its EFRAG Board meeting on Thursday 14 January 2016.

13/01/2016 EFRAG endorsement status report

On 13 January 2016, the IASB issued IFRS 16 Leases. As a result, EFRAG has updated the EFRAG Endorsement Status Report, which can be downloaded below and under the menu point 'Endorsement Status'.

12/01/2016 Summary report of EFRAG Outreach Event on Conceptual Framework For Financial Reporting in Brussels

EFRAG is pleased to publish a summary report of its outreach event in Brussels on 23 September 2015. In the outreach event participants discussed the Conceptual Framework for Financial Reporting and the results of an academic study, sponsored by EFRAG and the ICAS, on professional investors’ financial information usage.

11/01/2016 EFRAG TEG Meeting Wednesday 27 & Thursday 28 January 2016

EFRAG announces that it will hold its EFRAG TEG meeting on Wednesday 27 and Thursday 28 January 2016

29/12/2015 EFRAG endorsement status report

In the light of the endorsement by the European Commission of the Amendments to IAS 27: Equity Method in Separate Financial Statements, EFRAG has updated the EFRAG Endorsement Status Report.

24/12/2015 EFRAG Update December

The December 2015 edition of the EFRAG Update, summarising public technical discussions held and decisions taken during that month, has been published and can be downloaded below. Previous publications of the EFRAG Update can be found on the EFRAG Website.

24/12/2015 EFRAG’s Draft Comment letter to the IASB's Exposure Draft ED/2015/11 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts

EFRAG has published its draft comment letter on the IASB’s Exposure Draft ED/2015/11 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts and seeks constituents’ views on the proposals. Comments on the draft comment letter are requested by 20 January 2016.

23/12/2015 BEST WISHES!

Everyone at EFRAG is wishing you all the best for a wonderful festive season: Merry Christmas and Happy New Year 2016!

23/12/2015 EFRAG’s comment letters in response to the IASB Exposure Drafts on the Conceptual Framework for Financial Reporting

EFRAG has submitted it comment letters on the IASB Exposure Drafts ED/2015/3 Conceptual Framework for Financial Reporting and ED/2015/4 Updating References to the Conceptual Framework.

21/12/2015 EFRAG TEG ROTATION 2016: appointments and reappointments

On 24 November, the EFRAG Board decided to appoint Nicklas Grip as EFRAG TEG vice-Chair. The Board also appointed Søren Kok Olsen and Nicolas de Paillerets as new TEG Members. Christian Chiarasini and Serge Pattyn have seen their mandates renewed for another 2-year term.

21/12/2015 EFRAG endorsement status report

In the light of the endorsement by the European Commission of Amendments to IAS 1: Disclosure Initiative, EFRAG has updated the EFRAG Endorsement Status Report.

21/12/2015 EFRAG’s Response to the Trustees’ Review of Structure and Effectiveness

EFRAG has published its response to the Request for Views Trustees’ Review of Structure and Effectiveness: Issues for Review and the related feedback statement addressing the comment letters EFRAG received.

21/12/2015 Feedback statement for the Joint Outreach Event on the Conceptual Framework and on Materiality in Rome

EFRAG and the Organismo Italiano di Contabilita' (the OIC), the Italian Standards-Setter, have published a feedback statement of their joint outreach event on the IASB Exposure Drafts ED/2015/3 Conceptual Framework for Financial Reporting and ED/2015/8 IFRS Practice Statement: Application of Materiality to Financial Statements. The joint outreach event was held in cooperation with the IASB and took place on 30 November 2015 in Rome.

18/12/2015 Summary report of EFRAG - EFFAS - AIAF - IASB Joint Investor Outreach Event on profit or loss (P&L) and other comprehensive income (OCI)

EFRAG, EFFAS, AIAF and the IASB are pleased to publish a summary report of their investor outreach event in Milan on 22 October 2015. In the joint outreach event participants discussed the role of profit or loss (P&L) and other comprehensive income (OCI).

18/12/2015 Feedback statement for the Joint Outreach Event on the Conceptual Framework in Madrid

EFRAG and the Instituto de Contabilidad y Auditoría de Cuentas (ICAC) have published a feedback statement of their joint outreach event on the IASB Exposure Draft ED/2015/3 Conceptual Framework for Financial Reporting. The joint outreach event was held in cooperation with the IASB and took place on 21 September 2015 in Madrid.

16/12/2015 Feedback statement for the Joint Outreach Event on the Conceptual Framework in Oslo

EFRAG and the Norwegian Accounting Standards Board (NASB) have published a feedback statement of their joint outreach event on the IASB Exposure Draft ED/2015/3 Conceptual Framework for Financial Reporting. The joint outreach event was held in cooperation with the IASB and took place on 16 September 2015 in Oslo.

16/12/2015 Feedback statement for the Joint Outreach Event on the Conceptual Framework in Vilnius

EFRAG, the Estonian Ministry of Finance, the Latvian Ministry of Finance and the Lithuanian Authority of Audit and Accounting have published a feedback statement of their joint outreach event on the IASB Exposure Draft ED/2015/3 Conceptual Framework for Financial Reporting. The joint outreach event was held in cooperation with the IASB and took place on 23 September 2015 in Vilnius.

16/12/2015 Feedback statement for the Joint Outreach Event on the Conceptual Framework in Warsaw

EFRAG and the Polish Accounting Standards Committee (KSR), in cooperation with the World Bank Centre for Financial Reporting Reform, have published a feedback statement of their joint outreach event on the IASB Exposure Draft ED/2015/3 Conceptual Framework for Financial Reporting. The joint outreach event was held in cooperation with the IASB and took place on 30 September 2015 in Warsaw.

16/12/2015 EFRAG endorsement status report

In the light of the endorsement by the European Commission of Annual Improvements to International Financial Reporting Standards 2012-2014 Cycle, EFRAG has updated the EFRAG Endorsement Status Report.

16/12/2015 EFRAG's draft comment letter on the IASB's Exposure Draft ED/2015/10 Annual Improvements to IFRSs 2014–2016 Cycle

EFRAG has published its draft comment letter in response to the Exposure Draft Annual Improvements to IFRSs 2014–2016 Cycle and seeks constituents’ views on the proposals. Comments on the draft comment letter are requested by 5 February 2016.

10/12/2015 EFRAG's draft comment letter on the IASB's ED/2015/9 Transfers of Investment Property

EFRAG issued its draft comment letter on the IASB's Exposure Draft ED/2015/9 Transfers of Investment Property: Proposed Amendment to IAS 40. EFRAG requests comments by 15 March 2016.

09/12/2015 EFRAG's report on the findings from the public survey on the expected effects of the introduction of IFRS 16 Leases on financial covenants in loan agreements

EFRAG published a report that summarises the findings from the public survey on the effects of the introduction of IFRS 16 Leases on financial covenants in loan agreements. The public survey was carried out by EFRAG in association with the National Standard Setters of Lithuania, France, Germany, Italy, and the UK (AAT, ANC, DRSC, OIC, FRC). The IASB also participated in this consultation.

08/12/2015 EFRAG Board Meeting Wednesday 16 December 2015

EFRAG announces that it will hold its EFRAG Board meeting on Wednesday 16 December 2015.

04/12/2015 EFRAG’s Draft Comment Letter to the IFRS Foundation Trustees’ Invitation to Comment IFRS Taxonomy Due Process

EFRAG has published its draft comment letter on the IFRS Foundation’s Invitation to Comment IFRS Taxonomy Due Process and seeks constituents’ views. Comments on our draft comment letter are requested by 30 January 2016.

04/12/2015 Further information related to the endorsement of IFRS 9

EFRAG has sent its letter to the European Commission providing further information related to the endorsement of IFRS 9.

03/12/2015 EFRAG endorsement status report

In the light of the endorsement by the European Commission of Amendments to IAS 16 and IAS 38: Clarification of Acceptable Methods of Depreciation and Amortisation, EFRAG has updated the EFRAG Endorsement Status Report.

01/12/2015 EFRAG Update November

The November 2015 edition of the EFRAG Update, summarising public technical discussions held and decisions taken during that month, has been published and can be downloaded below. Previous publications of the EFRAG Update can be found on the EFRAG Website.

01/12/2015 Letter to the European Commission explaining how EFRAG has reached its conclusion that IFRS 9 Financial Instruments is not contrary to the true and fair principle.

Upon the request of the European Commission, EFRAG has issued a letter to further explain how it has reached the conclusion contained in its endorsement advice that IFRS 9 Financial Instruments is not contrary to the true and fair principle.

01/12/2015 EFRAG Board Conference Call Friday 4 December 2015

EFRAG announces that it will hold an EFRAG Board conference call on Friday 4 December from 13.00 to 14.00 hrs CET to discuss the letter to the EC with further information on the endorsement of IFRS 9 concerning the insurance issue.

27/11/2015 Feedback statement for the Joint Outreach Event on the Conceptual Framework in Paris

EFRAG and the Autorité des Normes Comptables (ANC) have published a feedback statement of their joint outreach event on the IASB Exposure Draft ED/2015/3 Conceptual Framework for Financial Reporting. The joint outreach event was held in cooperation with the IASB and took place on 14 September 2015 in Paris.

27/11/2015 Feedback statement for the Joint Outreach Event on the Conceptual Framework in Amsterdam

EFRAG and the Dutch Accounting Standards Board (DASB) have published a feedback statement of their joint outreach event on the IASB Exposure Draft ED/2015/3 Conceptual Framework for Financial Reporting. The joint outreach event was held in cooperation with the IASB and took place on 5 October 2015 in Amsterdam.

27/11/2015 EFRAG's draft comment letter on the IASB's Exposure Draft ED/2015/8 IFRS Practice Statement: Application of Materiality to Financial Statements

EFRAG has published its draft comment letter in response to the Draft IFRS Practice Statement: Application of Materiality to Financial Statements and seeks constituents’ views on the proposals. Comments on the draft comment letter and inputs to the questions in it are requested by 15 February 2016.

25/11/2015 EFRAG endorsement status report

In the light of the endorsement by the European Commission of Amendments to IAS 16 and IAS 41: Bearer Plants and Amendments to IFRS 11: Accounting for Acquisitions of Interests in Joint Operations, EFRAG has updated the EFRAG Endorsement Status Report.

24/11/2015 Feedback statement on the IASB's Exposure Draft ED/2015/5 Remeasurement on a Plan Amendment, Curtailment or Settlement / Availability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14)

EFRAG published its feedback statement to constituents following the publication of the final comment letter on the IASB´s Exposure Draft Remeasurement on a Plan Amendment, Curtailment or Settlement / Availability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14).

23/11/2015 EFRAG Board meeting of 24 November converted into a conference call

EFRAG announces that its EFRAG Board meeting of Tuesday 24 November has been converted into a conference call.

20/11/2015 Feedback statement for the Joint Outreach Event on the Conceptual Framework in Helsinki

EFRAG, the Financial Supervisory Authority, the Ministry of Employment and the Economy and the Confederation of Finnish Industries have published a feedback statement of their joint outreach event on the IASB Exposure Draft ED 2015/3 Conceptual Framework for Financial Reporting. The joint outreach event was held in cooperation with the IASB and took place on 14 October 2015 in Helsinki.

17/11/2015 EFRAG’s draft comment letter on the Draft IFRIC Interpretation DI/2015/1 Uncertainty over Income Tax Treatments

EFRAG has published its draft comment letter in response to the Draft IFRIC Interpretation DI/2015/1 Uncertainty over Income Tax Treatments and seeks constituents’ views on the proposals. Comments on the draft comment letter and inputs to the request in a separate Appendix are requested by 13 January 2016.

17/11/2015 Feedback Statement on the ED/2015/7 Effective Date of Amendments to IFRS 10 and IAS 28

EFRAG has published a feedback statement following the publication of its final comment letter on the IASB´s Exposure Draft Effective Date of Amendments to IFRS 10 and IAS 28.

13/11/2015 IFRS 9 and IFRS 4: further information related to the endorsement of IFRS 9

EFRAG asks for your input by noon on 20 November 2015

13/11/2015 Help shape the future of IFRS! What should EFRAG and the IASB focus on before 2020? Programme available!

On Monday 23 November, EFRAG and the IASB invite you to participate in a joint outreach event in Brussels on the 2015 IASB Agenda Consultation and EFRAG’s own proactive Agenda Consultation and the issue of consistent application as addressed in the IFRS Foundation’s Trustees Review

12/11/2015 EFRAG's Draft Comment Letter on the IASB's Draft Interpretation DI/2015/2 Foreign Currency Transactions and Advance Consideration

EFRAG has issued its Draft Comment Letter on the IASB's Draft Interpretation Foreign Currency Transactions and Advance Consideration.

10/11/2015 EFRAG's Comment Letter on the IASB's ED/2015/6 Clarifications to IFRS 15

EFRAG has issued its comment letter on the IASB's Exposure Draft Clarifications to IFRS 15.

10/11/2015 Joint Outreach Event on the Revision to the Conceptual Framework - Rome: programme available!

EFRAG, the Italian OIC and the IASB announce a joint outreach event to be held in Rome on Monday 30 November 2015.

10/11/2015 EFRAG TEG Conference Call Thursday 19 November 2015

EFRAG announces that it will hold an EFRAG TEG conference call on Thursday 19 November from 08.30 to 10.30 hrs CET

10/11/2015 IFRS 9 and IFRS 4: further information related to the endorsement of IFRS 9

EFRAG asks for your input by noon on 20 November 2015

08/11/2015 EFRAG provides its preliminary views on the IASB Exposure Draft Conceptual Framework for Financial Reporting

In July 2015, EFRAG launched its public consultation on the IASB Exposure Draft ’Conceptual Framework for Financial Reporting’, without having fully deliberated preliminary views. EFRAG is now providing its preliminary views on the Exposure Draft.

06/11/2015 EFRAG’s comment letter on the IASB´s Exposure Draft ED/2015/5 Remeasurement on a Plan Amendment, Curtailment or Settlement / Availability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14)

EFRAG issues its comment letter on the IASB's Exposure Draft ED/2015/5 Remeasurement on a Plan Amendment, Curtailment or Settlement / Availability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14).

05/11/2015 EFRAG/IASB Outreach event IASB Agenda Consultation and Trustees Review in Denmark

On Wednesday 25 November, the Confederation of Danish Industry (DI) and FSR (Danish Auditors), together with EFRAG and the IASB, invite you to participate in a joint outreach event in Copenhagen on the 2015 IASB Agenda Consultation, the Trustees Review and EFRAG’s own proactive Agenda Consultation.

04/11/2015 EFRAG Board Conference Call Monday 9 November 2015

EFRAG announces that it will hold an EFRAG Board conference call on Monday 9 November from 16.30 to 18.00 hrs CET to discuss the draft letter to the EC with further information on the endorsement of IFRS 9 concerning the insurance issue.

02/11/2015 EFRAG Update October

The October 2015 edition of the EFRAG Update, summarising public technical discussions held and decisions taken during that month, has been published and can be downloaded below. Previous publications of the EFRAG Update can be found on the EFRAG Website.

30/10/2015 EFRAG endorsement status report

Endorsement of IFRS 14 Regulatory Deferral Accounts

26/10/2015 Help shape the future of IFRS! What should EFRAG and the IASB focus on before 2020?

On Monday 23 November, EFRAG and the IASB invite you to participate in a joint outreach event in Brussels on the 2015 IASB Agenda Consultation and EFRAG’s own proactive Ag