EFRAG is conducting a survey aimed at preparers of financial statements for European entities that may be impacted by the upcoming IASB Standard on Regulatory Assets and Regulatory Liabilities (IFRS X). The final standard is expected to be published in the second half of 2025.
Background of the Survey
In July 2024, the IASB completed its redeliberation’s on the Exposure Draft for Regulatory Assets and Regulatory Liabilities. A final IFRS X standard is expected in the second half of 2025. To facilitate EFRAG’s endorsement advice, preparatory work has begun, including assessing the practicability and conducting a cost-benefit assessment of IFRS X in the European Economic Area.
Purpose of the Survey
The survey seeks to gather feedback on the practicability and anticipated effects of implementing IFRS X. This data will assist EFRAG in performing a cost-benefit assessment and preparing its endorsement advice for the European Commission.
Topics Covered in the Survey
- Information on current agreements and expected changes in the coming years.
- Insights into the likely impact on financial reporting.
- Estimated costs of implementing IFRS X.
- How IFRS X will affect the quality of financial information reported.
Deadline: 31 March 2025.
Access to Survey [here]
For more information [here]