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30/09/2014 | EFRAG calls again for public fatal flaw reviews

EFRAG has issued its letter calling on the IASB to enhance its quality control procedures prior to finalisation of a standard or a major amendment to a standard. EFRAG has been encouraged by our constituents to renew our recommendation that public fatal flaw reviews should take place.

25/09/2014 | EFRAG SB Summary 19 September 2014

The summary of the EFRAG Supervisory Board meeting held on 19 September 2014 has been published and can be downloaded here.

25/09/2014 | EFRAG endorsement status report

On 25 September 2014, the IASB issued Annual Improvements to IFRSs 2012–2014 Cycle. Therefore, EFRAG has updated the EFRAG Endorsement Status Report, which can be downloaded below and under the menu point 'Endorsement Status'.

23/09/2014 | EFRAG endorsement status report

In the light of the EFRAG's endorsement advice letters on Agriculuture: Bearer Plants Amendments to IAS 16 and IAS 41 EFRAG has updated the EFRAG Endorsement Status Report, which can be downloaded below and under the menu point 'Endorsement Status'.

22/09/2014 | EFRAG's Final Endorsement Advice and Effects Study Report on Agriculture: Bearer Plants Amendments to IAS 16 and IAS 41

EFRAG has completed its due process regarding Agriculture: Bearer Plants Amendments to IAS 16 and IAS 41 and has submitted its Endorsement Advice Letter and Effects Study Report to the European Commission.

12/09/2014 | EFRAG’s draft comment letter on the IASB Exposure Draft ED/2014/3 Recognition of Deferred Tax Assets for Unrealised Losses (Proposed Amendments to IAS 12)

EFRAG has published its draft comment letter in response to the Exposure Draft ED/2014/3 Recognition of Deferred Tax Assets for Unrealised Losses (Proposed Amendments to IAS 12). Responses to the draft comment letter are requested by 28 November 2014.

11/09/2014 | EFRAG endorsement status report

On 11 September 2014, the IASB issued Amendments to IFRS 10 and IAS 28: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture. Therefore, EFRAG has updated the EFRAG Endorsement Status Report, which can be downloaded below and under the menu point 'Endorsement Status'.

10/09/2014 | EFRAG Short Discussion Series paper on presentation of reversal of acquistion step-ups

EFRAG has published a new Short Discussion Series paper. This paper discusses presentation and disclosure of information on the reversal of step-ups recognised in a business combination.

10/09/2014 | Feedback statement on EFRAG Short Discussion Series Paper The Equity Method: a measurement basis or one-line consolidation?

EFRAG has published a feedback statement summarising comments in response to the EFRAG Short Discussion Series Paper The Equity Method: a measurement basis or one-line consolidation?

10/09/2014 | EFRAG Update July-September 2014

The July-September 2014 edition of EFRAG Update, summarising the discussions held at the EFRAG TEG conference call of 24 July 2014 and at the EFRAG TEG meeting of 3-5 September 2014, has been published and can be downloaded here.

04/09/2014 | Feedback statement on The Role of the Business Model in Financial Statements Research Paper

EFRAG, the ANC and the FRC release the summary of comments received on The Role of the Business Model in Financial Statements Research Paper.

03/09/2014 | Your opportunity to provide input to EFRAG activities!

EFRAG is offering you a number of opportunities to make a difference in the accounting debate in Europe!

02/09/2014 | EFRAG endorsement status report

On 29 August 2014, the Accounting Regulatory Committee (ARC) voted by written procedure in favour of Annual Improvements to IFRSs 2010-2012 Cycle and Annual Improvements to IFRSs 2011-2013 Cycle (issued on 12 December 2013). EFRAG has updated the EFRAG Endorsement Status Report, which can be downloaded below and under the menu point 'Endorsement Status'.

01/09/2014 | Discussion Paper – Separate Financial Statements

The European Financial Reporting Advisory Group (EFRAG), the Spanish Instituto de Contabilidad y Auditoría de Cuentas (ICAC), the Italian Organismo Italiano di Contabilità (OIC) and the Dutch Raad voor de Jaarverslaggeving (RJ) have published today a Discussion Paper on ‘Separate Financial Statements’. The Discussion Paper is the result of a joint project as part of EFRAG’s proactive agenda.

14/08/2014 | EFRAG Short Discussion Series – Levies: what would have to be changed in IFRS for a different accounting outcome?

EFRAG has published the third paper in the Short Discussion Series. This paper considers which changes to IFRS would need to be made to achieve a different accounting treatment for levies whose obligating event occurs at a point in time.

17/07/2014 | EFRAG INSIDER - Second quarter 2014

EFRAG Insider was created in the course of 2010 to inform founding and funding members about current developments in all EFRAG activities. EFRAG Insider is now available to a wider audience and is published every quarter on average.

09/07/2014 | EFRAG Discussion Paper Classification of Claims

EFRAG has published a Discussion Paper “Classification of Claims” to assist in developing an informed and reasoned approach to the claims side of the balance sheet, including the equity/liability distinction.

01/07/2014 | EFRAG’s draft comment letter on the IASB Discussion Paper Accounting for Dynamic Risk Management: a Portfolio Revaluation Approach to Macro Hedging

EFRAG has published its draft comment letter in response to the IASB Discussion Paper. Responses to the draft comment letter are requested by 10 October 2014. Given the groundbreaking thinking in the Discussion Paper, EFRAG would welcome additional contact with constituents in advance of receiving formal responses to the draft comment letter.

19/06/2014 | Reform of EFRAG Governance close to completion: General Assembly approves revised EFRAG Statutes and Internal Rules and welcomes eight new members!

EFRAG announces a major step forward in the implementation of the governance reform following the recommendations of Philippe Maystadt. On 16 June 2014, in an EFRAG General Assembly meeting, EFRAG’s existing 7 Member Organisations (BUSINESSEUROPE, EACB, EBF, EFAA, ESBG, FEE and Insurance Europe) have approved the revised EFRAG Statutes and Internal Rules and admitted 8 new members.

16/05/2014 | EFRAG Annual Review 2013

The EFRAG Annual Review 2013 has been published and is available for download.

EFRAG Focus

REMINDER Call for EFRAG TEG Applicants
EFRAG is calling for candidates for its Technical Expert Group partially in view of the current preparer vacancies, the regular rotation scheme under which the present mandate period of three EFRAG TEG members expires on 31 March 2015 and further for vacancies which will be governed by the new EFRAG governance structure. We urge all candidates to submit their candidatures at the very latest by 1 October 2014.

DO NOT MISS YOUR NEXT JOB OPPORTUNITY: JOIN EFRAG!
EFRAG is seeking financial reporting professionals with IFRS expertise to join its technical staff!


Projects: Invitation to Comment

Accounting for macro hedging | Draft Comment Letter
Comments no later than : 10/10/2014

EFRAG Discussion Paper - Classification of Claims | Discussion Paper
Comments no later than : 31/10/2014

Amendments to IAS 12: Recognition of Deferred Tax Assets for Unrealised Losses | Draft Comment Letter
Comments no later than : 28/11/2014

EFRAG Short Discussion Series - Levies: what would have to be changed in IFRS for a different accounting outcome? | Discussion Paper
Comments no later than : 15/12/2014

EFRAG Short Discussion Series - Presentation of reversal of acquisition step-ups | Discussion Paper
Comments no later than : 31/12/2014

Proactive - Separate Financial Statements prepared under IFRS | Discussion Paper
Comments no later than : 31/12/2014

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