|
Description :
|
In November 2010 the IFRS Foundation issued a public consultation paper to seek advice from the stakeholder community in order to obtain input for its ongoing strategy review. EFRAG submitted its Final Comment Letter in March 2011. View for details here.
At the end of April 2011 the IFRS Foundation issued a report of the Trustees’ Strategy Review IFRSs as the Global Standard: Setting a Strategy for the Foundation’s Second Decade. This report provides the preliminary conclusions of the Trustees’ Strategy Review and sets out the proposed recommendations following the earlier public consultation on the Status of the Trustees Strategy Review issued in November 2010. The IFRS Foundation deadline for comments to be received is 25 July 2011.
The Trustees state that they are committed to coordinating the conclusion of their review with the Monitoring Board, in order to arrive at an integrated set of proposals on the basis of their current report and the final decisions reached by the Monitoring Board following its separate public proposals.
On 31 May 2011 EFRAG issued its Draft Comment Letter on the Trustees' proposed recommendations for public consultation with a comment deadline of 11 July 2011.
EFRAG is in general supportive of most of the proposed recommendations and in particular welcomes the emphasis on high quality global standards, transparency and the focus on adoption of IFRS rather than on convergence.
However EFRAG formulates recommendations notably focusing on long-term investors; defining the boundaries of financial statements; increasing Trustees 'communication duties; setting the agenda after public consultation on the objectives of, and need for, possible projects; keeping XBRL separate from the standard setting process; and handling research activities.
EFRAG received ten comment letters and input from meetings and other sources which were carefully considered in preparing EFRAG's final comment letter. EFRAG issued its final comment letter on 5 August 2011.
To access the IFRS Foundation related project page click here
|
|
|
|
|
|
|
Working groups :
|
EFRAG Supervisory Board (EFRAG SB) -
|
|
|
Current Project Status :
|
Final Comment Letter
|
|
|
|
Efrag Output
Comment Letters
No 'Comment Letters'
Other Input
No 'Other Input'
News Items
|
