9-4-2009 | EFRAG's Final Comment Letter on ED 10 Consolidated Financial Statements

EFRAG has finalised its due process and submitted to the IASB its comment letter on ED 10 Consolidated Financial Statements.
	EFRAG supports the objectives of the ED but believes that the ED should incorporate risks and rewards as part of the proposed control based model. EFRAG is not sure that the ED (as drafted) represents an improvement on existing IFRS and believes that the IASB should divide the project in two and address the urgent need for disclosures and greater clarity as a matter of high priority. This would allow much needed time to be spent on a single universally-applied consolidation principle. The letter can be downloaded here.
Document : EFRAGs Comment Letter on ED 10 Consolidated Financial Statements.pdf
Linked Project : click here