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31/07/2015 | Joint Outreach Event on the Revision to the Conceptual Framework - Amsterdam

EFRAG, the Dutch Accounting Standards Board and the IASB announce a joint outreach event to be held in Amsterdam on 5 October 2015.

30/07/2015 | Joint Outreach Event on the Conceptual Framework - Madrid

EFRAG, the Spanish Institute for Accounting and Auditing (ICAC) and the IASB announce a joint outreach event to be held in Madrid on Monday 21 September 2015.

30/07/2015 | EFRAG has published a feedback statement on input received during the individual insurance specialist user outreach on the potential deferral IFRS 9 effective date for insurers

EFRAG has published a feedback statement that summarises the input received during the individual insurance specialist user outreach on the potential deferral of IFRS 9 effective date for insurers. This input is used by EFRAG in developing its Final Endorsement Advice for the European Commission on IFRS 9 Financial Instruments.

29/07/2015 | Effect of the deferral of the IFRS 15 effective date on EFRAG’s endorsement advice

EFRAG has informed the European Commission that the IASB has deferred the effective date of IFRS 15.

29/07/2015 | Feedback statement on the IASB's ED/2015/1 Classification of Liabilities - Proposed amendments to IAS 1

EFRAG has published a feedback statement following the publication of its final comment letter on the IASB´s Exposure Draft Classification of Liabilities - Proposed amendments to IAS 1.

24/07/2015 | EFRAG’s draft 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 has published its draft comment letter in response to 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) and seeks constituents’ views on the proposals. Comments on the draft comment letter are requested by 9 October 2015.

23/07/2015 | EFRAG Endorsement Advice of Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and IAS 28)

EFRAG has completed its due process regarding Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and IAS 28) and has submitted its Endorsement Advice Letter to the European Commission.

20/07/2015 | EFRAG endorsement status report

On 9 July 2015, the Accounting Regulatory Committee (ARC) voted by written procedure in favour of Amendments to IAS 16 and IAS 41: Bearer Plants (issued on 30 June 2014), Amendments to IAS 16 and IAS 38: Clarification of Acceptable Methods of Depreciation and Amortisation (issued on 12 May 2014) and Amendments to IFRS 11: Accounting for Acquisitions of Interests in Joint Operations (issued on 6 May 2014). EFRAG has updated the EFRAG Endorsement Status Report, which can be downloaded below and under the menu point 'Endorsement Status'.

16/07/2015 | EFRAG requests extension of the comment period on the Conceptual Framework Exposure Draft

EFRAG has requested the IASB to extend the comment period related to the Exposure Draft Conceptual Framework for Financial Reporting until 26 December 2015.

15/07/2015 | EFRAG Short Discussion Series – The Statement of Cash Flows: issues for Financial Institutions

EFRAG has published a paper in the Short Discussion Series. This paper discusses the relevance of the Statement of Cash Flows for financial institutions and investigates alternatives that could either supplement or replace the information currently portrayed by these entities in the Statement of Cash Flows.

14/07/2015 | EFRAG publishes a Bulletin on profit or loss versus OCI

EFRAG has published a Bulletin to contribute to the discussion on what items should be reported in profit or loss and what items should be reported as items of other comprehensive income. The Bulletin is published to help form European views that are influential in the debate on the IFRS Conceptual Framework.

07/10/2015 | ARE YOU A FINANCIAL REPORTING PROFESSIONAL INTERESTED IN BRINGING THE EUROPEAN VIEW IN FINANCIAL REPORTING? JOIN EFRAG!

EFRAG is seeking financial reporting professionals to join the EFRAG team. We are looking for generalist IFRS experts and financial reporting professionals with insurance expertise to join our insurance team.

10/07/2015 | Joint Outreach Event on the Conceptual Framework - Oslo

EFRAG, the Norwegian Accounting Standards Board (NRS) and the IASB announce a joint outreach event to be held in Oslo on Wednesday 16 September 2015.

08/07/2015 | EFRAG document for public consultation on the IASB ED Conceptual Framework for Financial Reporting

EFRAG has published a document for public consultation on the IASB Exposure Draft Conceptual Framework for Financial Reporting. Comments are requested by 26 October 2015.

03/07/2015 | EFRAG Update June 2015

The June 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.

11/06/2015 | Update on the organisation of EFRAG

On 8 June, the EFRAG General Assembly welcomed the continuation of Roger Marshall as acting EFRAG Board President. EFRAG will continue to move forward under his leadership in all areas of EFRAG’s mandate until a permanent President is appointed

10/06/2015 | EFRAG Annual Review 2014 !

EFRAG is pleased to share the review of its 2014 important events and activities. Enjoy your reading!

31/10/2014 | New EFRAG organisation effective: EFRAG Board Acting President and Members appointed with immediate effect

The EFRAG General Assembly of 31 October 2014 appoints the EFRAG Board acting President and its Members, as the new organisation of EFRAG becomes effective.

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.

EFRAG Focus

EFRAG, the IASB and the National Standard Setters AAT, ANC, ASCG, FRC and OIC invite companies to participate in a public survey on impact of the forthcoming new IFRS on Leases on financial covenants in loan agreements
The IASB has completed its redeliberations in regard to the proposed new lease accounting requirements. The new IFRS on Leases is expected to be issued before the end of 2015. It will require lessees to recognise assets and liabilities for all identified leases. The amount of newly recognised lease liabilities is expected to be significant for many entities. Therefore, questions have been raised about the possible impact of the new IFRS on financial covenants in loan agreements that refer to measures of debt, net financial position or similar indicators. EFRAG, the IASB and the National Standard Setters are performing this public survey to acquire quantitative and qualitative information about how covenants are determined in Europe.

EFRAG Updates
The EFRAG Update is published on a monthly basis to inform constituents about due process publications, public technical discussions held and decisions taken during that month. You can access current and past editions here.

SEEKING A NEW CHALLENGE? JOIN EFRAG!
EFRAG is seeking financial reporting professionals with IFRS expertise to join its technical staff!


Projects: Invitation to Comment

Amendments to IAS 19 and IFRIC 14 - Remeasurement at a plan amendment, curtailment or settlement / Availability of a refund from a defined benefit plan | Draft Comment Letter
Comments no later than : 09/10/2015

Conceptual Framework - Bulletin: Profit or loss versus OCI | Discussion Paper
Comments no later than : 26/10/2015

Conceptual Framework - IASB Exposure Draft Conceptual Framework for Financial Reporting | Draft Comment Letter
Comments no later than : 26/10/2015

The Statement of Cash Flows: issues for Financial Institutions | Discussion Paper
Comments no later than : 31/03/2016

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