EFRAG's Endorsement Advice On Amendments to IAS 1
The IASB issued the following amendments to IAS 1, collectively "the Amendments":
- Classification of Liabilities as Current or Non-current (January 2020);
- Classification of Liabilities as Current or Non-current - Deferral of Effective Date (July 2020); and
- Presentation of Financial Statements: Non-current Liabilities with Covenants (October 2022).
EFRAG has submitted its Endorsement Advice relating to the Amendments for use in the European Union and European Economic Area. EFRAG assesses that the Amendments meet the technical endorsement criteria of the IAS Regulation and is conducive to the European public good. EFRAG therefore recommends its endorsement. EFRAG's recommendation can be found in the letter to the European Commission and the accompanying appendices.
The Endorsement Advice Letter to the European Commission can be found here.
EFRAG has also updated its Endorsement Status Report, which can be found here on EFRAG's web page.