The European Commission has endorsed the Amendments to IAS 21, The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability, and this update is now reflected in the EFRAG Endorsement Status Report. The Amendments to IAS 21 specify the conditions under which a currency is exchangeable into another currency. They also provide guidance on…
EFRAG has released its draft comment letter (DCL) on the IASB Exposure Draft IASB/ED/2024/7 Equity Method of Accounting, IAS 28 Investments in Associates and Joint Ventures (revised 202x). Feedback to the DCL is invited by 6 January 2025. The IASB ED proposes amendments to IAS 28 to address existing application challenges related to the equity…
At COP29, EFRAG and CDP, the global disclosure system for environmental data, announced a major development in the interoperability between the CDP questionnaire and the European Sustainability Reporting Standards (ESRS). This collaboration is a significant step forward in creating efficiency in the environmental data ecosystem. Through joint mapping efforts, EFRAG and CDP identified a high…
EFRAG is hosting webinars on the draft ESRS for Non-EU Groups, which are required by the CSRD for non-EU companies generating over EUR 150 million annually in the EU. These companies will need to report on sustainability impacts at the group level starting in financial year 2028, with reports due in 2029. The webinars will…
The IASB has launched two surveys—one for investors and one for companies and other stakeholders—focused on accounting requirements for intangibles. EFRAG urges stakeholders to complete the relevant survey by 30 November 2024. The surveys aim to gather feedback on the issues the IASB needs to address, the project scope, and the most effective approach for…
EFRAG is inviting applications from academics in corporate reporting, including financial and sustainability reporting, to join its Academic Panel. The application deadline is 16 December 2024. The EFRAG Academic Panel, which has been active for over seven years, promotes collaboration between EFRAG and the academic community. The panel supports EFRAG’s technical advisory bodies (EFRAG FR…
EFRAG has unveiled the first keynote speakers for its upcoming 2024 Conference, “Advancing Transparency & Competitiveness in Challenging Times”, taking place on 10 December in Brussels and online. Confirmed speakers include: Andreas Barckow, IASB Chair Patrick de Cambourg, EFRAG SRB Chair Emmanuel Faber, ISSB Chair Wolf Klinz, EFRAG FRB Chair Ilhan Kyuchyuk, JURI Committee Chair,…
On 28 October 2024, the European Financial Reporting Advisory Group (EFRAG) extended the application deadline for its Financial Reporting Technical Expert Group (EFRAG FR TEG) to 30 November 2024. Why Apply to EFRAG FR TEG? EFRAG seeks technical experts in accounting and financial reporting to join this essential group, which provides the EFRAG Financial…
Milan, 18 October 2024. Jesús López Zaballos on the business and investor case for integrated reporting, “Integrated Reporting must not lose sight of the methodological restrictions to be useful, ensuring that financial and sustainability-related disclosures are not presented as ‘mixed’ or only ‘‘connected.’” Introduction: The business and investor case for integrated reporting. Dear Chairman Mr…
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…