European Financial Reporting Advisory Group

News

16/05/2012 | The 2011 Annual Review is available!

The EFRAG Annual Review 2011 has been published and is available for download.

16/05/2012 | EFRAG Update May 2012

The May 2012 edition of EFRAG Update, summarising the discussions held at the recent EFRAG TEG meeting, has been published and can be downloaded here.

10/05/2012 | EFRAG reports on input received in European Outreach event held on 16 April in London on the discussion papers 'Business Combinations Under Common Control' and 'Improving Financial Reporting of Income Tax'

EFRAG is issuing a feedback statement reflecting input received in the EFRAG - UK ASB - OIC event on the discussion papers 'Business Combinations Under Common Control' and 'Improving Financial Reporting of Income Tax'.

26/04/2012 | EFRAG SB Meeting 22 May

EFRAG announces that it will hold its next Supervisory Board (EFRAG SB) meeting on Tuesday 22 May.

25/04/2012 | EFRAG comment letter on the IASB ED Revenue from Contracts with Customers

EFRAG has issued its comment letter in response to the IASB’s ED Revenue from Contracts with Customers (ED/2011/6). The comment letter can be downloaded here.

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EFRAG Focus

Field-test for preparers on the general hedge accounting Review Draft
EFRAG will conduct a joint field-test of the revised IASB proposals on general hedge accounting. The Review Draft on general hedge accounting, which is expected to be released by the IASB by the end of June 2012, will introduce significant changes to the current general hedge accounting requirements. The main purposes of the field-test are to test the operationality of the proposals, whether the standard will operate as intended, and gather information to assess the quality and effects of the future accounting standard and the usefulness of the information that will result from applying the requirements, as well as to assess the level of effort required to implement and apply the requirements. This field-test is conducted by EFRAG in partnership with National Standard Setters in Europe who are interested in participating in the study. ANC, ASB, ASCG and the OIC have already agreed to participate.

Call for EFRAG Supervisory Board Candidates
The term of the EFRAG Supervisory Board members expires in the middle of 2012. The EFRAG Governance and Nominating Committee (EFRAG GNC) is looking for high level candidates from a wide range of backgrounds and geographical origins. Applications are welcomed by 15 May 2012.

EFRAG is looking for talented financial reporting professionals to join its technical staff!
EFRAG has started its 2012 recruitment process for technical project managers and welcomes candidates with a general financial reporting background and candidates with a financial institution background (with financial instruments experience), given the wide series of issues that we have to address in 2012 and subsequent years.

Discussion Paper 'Improving the Financial Reporting of Income Tax'
The European Financial Reporting Advisory Group (EFRAG) and the Accounting Standards Board (UK ASB) of the FRC have published today a Discussion Paper, ‘Improving the Financial Reporting of Income Tax’. The Discussion Paper results from a project developed by EFRAG and the UK ASB jointly, as part of EFRAG’s proactive agenda.

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Projects: Invitation to Comment

Proactive - Financial Reporting for Corporate Income Taxes | Discussion Paper
Comments no later than : 29/06/2012