EFRAG

EFRAG Releases Feedback Statement on IASB’s Proposed Amendments to IFRS 3 and IAS 36

On 17 October, EFRAG published its Feedback Statement concerning the IASB’s Exposure Draft on Business Combinations—Disclosures, Goodwill, and Impairment. This document highlights the key responses from various stakeholders to the IASB’s proposals, as well as how EFRAG has incorporated this feedback into its Final Comment Letter. Key Points of Feedback: IFRS 3 (Business Combinations): While…

EFRAG Issues Clarifications on Call for Tenders for ESRS Knowledge Hub

On 16 October, EFRAG published an addendum to address questions related to its open Call for Tenders for the development of the ESRS Knowledge Hub. This call, initiated on 20 September 2024, invites proposals to create a robust application for the ESRS Knowledge Hub, with a submission deadline of October 31, 2024. EFRAG encourages interested…

EFRAG Endorsement Advice on Amendments to IFRS 9 and IFRS 7

On October 9, EFRAG completed its due process regarding the Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7) and has submitted its Endorsement Advice to the European Commission.   These Amendments address stakeholder requests for clarification on the application guidance for assessing the contractual cash flow characteristics…

EFRAG Conference 2024

Date: December 10, 2024Location: The Hotel Brussels, 38 Bd de Waterloo, BrusselsTime: 9:00 – 17:15  CET, followed by drinks.   EFRAG is hosting its third annual conference, titled “Advancing Transparency & Competitiveness in Challenging Times.” The event will showcase EFRAG’s advancements in sustainability reporting and new developments in financial reporting, featuring high-level speakers discussing the…

EFRAG issues draft comment letter on the IASB ED Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures

On September 20, 2024, EFRAG published its Draft Comment Letter (DCL) on the IASB’s Exposure Draft IASB/ED/2024/5, which proposes amendments to IFRS 19 concerning Subsidiaries without Public Accountability: Disclosures.  EFRAG supports the IASB’s initiative to update IFRS 19, including efforts to streamline the new and amended disclosures introduced in IFRS Accounting Standards from February 2021…

EFRAG calls for feedback on its draft comment letter on the IASB’s ED Climate-related and Other Uncertainties in the Financial Statements

On September 20, 2024, EFRAG issued a Draft Comment Letter (DCL) on the IASB’s Exposure Draft (ED) IASB/ED/2024/6, focusing on proposed illustrative examples for climate-related and other uncertainties in financial statements. EFRAG considers the examples helpful in applying IFRS Accounting Standards but suggests that further examples and standard setting may be needed to meet stakeholder…

EFRAG Published an Open Call for Tenders to Assist EFRAG in Developing a Robust ESRS Knowledge Hub

On September 20, 2024, EFRAG launched an open call for tenders to help develop a comprehensive ESRS Knowledge Hub. This web-based platform will centralize key ESRS materials, including standards, guidance, Q&A resources, and taxonomies. The provider will handle the platform’s technical setup and initial content, with a completion target of September 30, 2025. They should…

EFRAG publishes Exposure Draft Due Process Procedures for Financial Reporting for consultation

On September 19, 2024, EFRAG released the Exposure Draft (ED) of its Due Process Procedures for the Financial Reporting Activities for public consultation. The aim is to formalize the existing procedures EFRAG uses in its financial reporting work. These procedures guide EFRAG’s role as a technical advisor to the European Commission, contributing to the IASB’s…

EFRAG is hosting two workshops on 27 September 2024

EFRAG will hold two Workshops on September 27, 2024, from 9:30 to 11:30 CET, where the focus will be on the Revised LSME standard. This session is designed for companies subject to ESRS LSME and their representatives, including associations, auditors, and accountants. The EFRAG workshop will assess whether the revisions effectively incorporate feedback from public…

EFRAG Sustainability Reporting Technical Expert Group Meeting 19 September 2024

EFRAG held its Sustainability Reporting Technical Expert Group Physical Meeting on Thursday, 19 September 2024. To watch the recording meeting session, here. The agenda of the meeting and supporting documents of the meeting, here.