EFRAG

Call: EFRAG Survey on IFRS 19 Reduced Disclosures

EFRAG has launched a survey to gather views on the voluntary application of IFRS 19 Subsidiaries without Public Accountability: Disclosures. This standard allows eligible subsidiaries to prepare financial statements with reduced disclosure requirements under IFRS.   The insights will help EFRAG evaluate: The costs and benefits of applying IFRS 19. Whether the standard aligns with…

EFRAG released the Voluntary Sustainability Reporting Standard for non-listed SMEs (VSME)

At the European Commission’s request, EFRAG delivered its Voluntary Sustainability Reporting Standard for non-listed SMEs (VSME). This technical advice aims to provide a simplified, proportionate framework for SMEs not covered by the Corporate Sustainability Reporting Directive (CSRD), helping them access sustainable finance and monitor their sustainability performance.   Development Process Public Consultation: Conducted from January…

EFRAG Conference 2024: Programme Available – Registrations Open

On 10 December 2024, EFRAG will hold its third annual conference, “Advancing Transparency & Competitiveness in Challenging Times”, in Brussels. The event will focus on key developments in sustainability and financial reporting, offering insights from high-level speakers and experts in the field.   The EFRAG Conference will feature keynote speeches on the latest trends in corporate reporting,…

Joint EFRAG-IASB Educational Session on IFRS 19 Subsidiaries Without Public Accountability

On 2 December 2024, EFRAG and AISB are organising an interactive session on IFRS 19 and its impact on subsidiaries without public accountability.   The event will cover: Introduction to IFRS 19 and its requirements. EU perspective on its application. Panel discussions with preparers on implementation challenges. Insights on the EU endorsement process. Q&A sessions with IASB, EFRAG, and panellists.…

EFRAG and European Commission Present Legal Framework and Standard-Setting Approach for ESRS for Non-EU Groups – Webinar Recording Available

The recording and presentation slides of the webinar on ESRS for Non-EU Groups are now available for access. On 19-20 November 2024, EFRAG and the European Commission presented the legal framework and standard-setting approach for ESRS for Non-EU Groups to stakeholders.   Key Takeaways  As per Article 40a of the CSRD, non-EU companies generating over EUR 150 million annually in…

EFRAG Publishes Discussion Paper on the Statement of Cash Flows

EFRAG has released its Discussion Paper (DP) on the Statement of Cash Flows and is seeking public comments by 15 May 2025. Objective of the Discussion Paper: The DP identifies key issues with the Statement of Cash Flows as prepared under IAS 7. It outlines various objectives of the statement and explores how it is used by primary users of financial statements. The DP also presents potential alternatives and supplements to the current statement…

EFRAG Publishes Final Comment Letter on IASB ED – Proposed Amendments to IAS 21 

EFRAG has released its Final Comment Letter (FCL) on the IASB’s Exposure Draft IASB/ED/2024/4 concerning Translation to a Hyperinflationary Presentation Currency and proposed amendments to IAS 21.   Key Highlights: EFRAG supports the proposed amendments to IAS 21 addressing the translation to a hyperinflationary presentation currency. Recommendations have been made to enhance the clarity of the proposals. EFRAG supports the disclosure requirements for both subsidiaries without public accountability and the proposed transition requirements.  …

Call to join EFRAG in Advancing Sustainability Reporting

EFRAG is seeking senior contributions in kind to support its surveys and research activities on sustainability reporting. This is a great opportunity for experts to play a key role in shaping European Sustainability Reporting Standards (ESRS). EFRAG is looking for senior secondees with practical expertise and real business experience to help implement the first set of ESRS.…

EFRAG Calls for New Members of its EFRAG Rate-regulated Activities Working Group

EFRAG is renewing its Rate-regulated Activities Working Group (EFRAG RRAWG) to support the endorsement process for a new IFRS Accounting Standard on regulatory assets and liabilities, expected to be published in late 2025. The group is seeking additional members, particularly from preparers and users, with expertise in rate-regulated environments and financial reporting. Application Deadline: 15…

EFRAG Seeks Stakeholders’ Comments on Its Draft Endorsement Advice on IFRS 18 Presentation and Disclosure in Financial Statements

EFRAG has published its Draft Endorsement Advice (DEA) on IFRS 18 Presentation and Disclosure in Financial Statements and invites stakeholders to submit comments by 26 March 2025. Objective of IFRS 18IFRS 18 aims to improve the usefulness of information presented and disclosed in financial statements, particularly by addressing feedback from stakeholders, including users requesting better…