EFRAG Publishes the ESRS Set 1 XBRL Taxonomy
On 30 August 2024, EFRAG published the XBRL for ESRS Set 1, enabling digital tagging of ESRS sustainability statements. For more information [here].
EFRAG Call for applicants to EFRAG Financial Reporting TEG for the 2025 rotation
EFRAG is seeking candidates for its Financial Reporting Technical Expert Group (FR TEG). Applications are open until October 31, 2024, Positions starting on April 1, 2025, for a term of one or two years. Candidates should have: Strong technical expertise, Experience with IFRS, The ability to work independently and in the public interest, Good English…
EFRAG invites investors and potential users of LSME sustainability statements to participate in an online workshop in the first half of September 2024.
The workshop will focus on whether the Revised LSME still meets investors’ needs and gather technical input to refine the standard. To read more or participate in the workshop – [Here]
EFRAG Releases Final comment letter on IASB´s ED Contracts for Renewable Energy
EFRAG has released its final comment letter on the IASB’s Exposure Draft Contracts for Renewable Electricity. EFRAG supports the IASB’s efforts to address the increasing prevalence of Power Purchase Agreements in line with the European Green Deal, but makes suggestions regarding scope, own-use assessment, disclosure requirements and hedge accounting requirements. For more information – [Here]
EFRAG Releases New ESRS Q&A Explanations Covering the January-July 2024 Period
EFRAG released 23 new Explanations to be added to its Compilation of Technical Explanations to assist stakeholders in the implementation of the ESRS via the EFRAG ESRS Q&A Platform. The Compilation of Explanations now includes a total of 93 explanations released between January and July 2024. These responses are provided as part of EFRAG’s role as a technical advisor to…
EFRAG Releases its Annual Review 2023
This report provides insights on the main achievements of the organisation in the past year and the important developments that took place for both the financial and sustainability reporting fields in the first half of 2024. For more information – [Here]
EFRAG has just released its final comment letter on the IASB’s ED Business Combinations—Disclosures, Goodwill, and Impairment
While thanking the IASB for its efforts to improve disclosure requirements in IFRS 3 & IAS 36, EFRAG also provides recommendations and concerns following feedback from its constituents. EFRAG’s Final Comment Letter [here]. For more information – [here]
EFRAG Releases Study on Early Implementation of ESRS: Insights from Selected EU Companies for Q2 2024
EFRAG has published a its Study: ‘State of play as of Q2 2024 | Implementation of European Sustainability Reporting Standards (ESRS): Initial Practices from Selected Companies’. This study aims to shed light on the initial practices of implementing the European Sustainability Reporting Standards (ESRS). As the ESRS implementation is still in its early stages, the findings should…
19 July 2024, EFRAG Endorsement Status Report – Update
On 18 July 2024, the IASB issued Annual Improvements Volume 11. It contains amendments to the following IFRS Standards: IFRS 1 First-time Adoption of International Financial Reporting Standards. IFRS 7 Financial Instruments: Disclosures. IFRS 9 Financial Instruments. IFRS 10 Consolidated Financial Statements. IAS 7 Statement of Cash Flows. EFRAG updated the EFRAG Endorsement Status Report. EFRAG Endorsement Status Report 19 July 2024.pdf.
16 July 2024, EFRAG Call to Join Newly Formed Community aimed at assessing and improving the disclosures under IFRS 19
This community will act as a sounding board, providing valuable insights and feedback on the usefulness of the disclosures included in the financial statements of eligible subsidiaries. Users such as credit analysts, banks, and minority shareholders are particularly encouraged to join. The input from this community will first be used to assess IFRS 19 Subsidiaries…