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 standard-setting process and advising on the endorsement of IFRS Accounting Standards. The ED outlines the requirements for these processes as detailed in EFRAG’s Statutes and Internal Rules.
Comments on the draft are open until December 31, 2024.
A summary of the EFRAG Exposure Draft: [here]
For more information: [here]