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06/07/2018 - EFRAG requests comments on its draft endorsement advice on Amendments to References to the Conceptual Framework in IFRS Standards

​EFRAG is consulting on its assessment of Amendments to References to the Conceptual Framework in IFRS Standards. Comments are requested by 14 September 2018.


EFRAG has issued a draft endorsement advice letter and a separate invitation to comment relating to the endorsement for use in the EU of Amendments to References to the Conceptual Framework in IFRS Standards ('the Amendments').

The Amendments were issued in March 2018. The Amendments update some of the references and quotations in IFRS Standards and Interpretations so that they refer to the revised Conceptual Framework or specify the version of the Conceptual Framework to which they refer.

The Amendments shall be applied for annual periods beginning on or after 1 January 2020. Earlier application is permitted if the entity applies all the amendments. The Amendments shall be applied retrospectively unless this would be impracticable or would involve undue cost or effort.

EFRAG's overall preliminary assessment is that the Amendments satisfy the criteria for endorsement for use in the EU and therefore EFRAG recommends their endorsement. EFRAG is seeking comments on all aspects of its analyses supporting its preliminary conclusions.

EFRAG's draft endorsement advice letter is available here.

You are asked to provide your comments on the draft endorsement advice letter either:

  • through the web form survey available here; or
  • by downloading the invitation to comment​​, filling in the comments, and submitting the response by clicking on the ‘Comment publication’ link below.

For your information, EFRAG has also updated its Endorsement Status Report, which is available on EFRAG's website here.

Comments are requested by 14 September 2018.