27-1-2009 | EFRAG requests comments on its initial assessments of the Revised Version of IFRS 1 'First Time Adoption of IFRSs'

EFRAG is today issuing an Invitation to Comment relating to the endorsement for use in the EU of the revised version of IFRS 1 'First-Time Adoption of IFRSs'. It is consulting both on its assessment of the amendment against the EU endorsement criteria and on its initial assessment of the costs and benefits that would arise from the implementation of the amendment in the EU. Comments are requested by 13 March 2008.
	The objective of replacing the existing IFRS 1 with the Restructured IFRS 1 is to make IFRS 1 easier to use and amend in the future. The intention is that the requirements should not change.
Document : EFRAGs Invitation to Comment on Assessment Revision to IFRS 1.doc
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