06/06/2016 - EFRAG's Endorsement Advice on Disclosure Initiative - Amendments to IAS 7
EFRAG has completed its due process regarding Disclosure Initiative - Amendments to IAS 7 and has submitted its Endorsement Advice Letter to the European Commission.
In January 2016, the IASB issued Disclosure Initiative - Amendments to IAS 7 ('the Amendments') which were initially issued as an exposure draft ED/2014/6 in December 2014.
The Amendments, effective for annual periods beginning on or after 1 January 2017, require entities to provide information about changes in their liabilities arising from financing activities, including both changes arising from cash flows and non-cash changes.
EFRAG has submitted its Endorsement Advice relating to the Amendments for use in the European Union and European Economic Area. EFRAG assesses that the Amendments meet all technical endorsement criteria of the IAS Regulation and are conducive to the European public good. It therefore recommends their endorsement. EFRAG's recommendation is explained in the letter to the European Commission and the accompanying appendices.
The Endorsement Advice Letter to the European Commission can be found here.
EFRAG has also updated its Endorsement Status Report, which can be downloaded here on EFRAG's web page.