EFRAG has shared its final comment letter on the IASB’s Exposure Draft, Equity Method of Accounting for Investments in Associates and Joint Ventures. The Exposure Draft, issued on 19 September 2024, aims to resolve IAS 28 application issues and enhance disclosure requirements in IFRS 12 and IAS 27. EFRAG supports key proposals, including the measurement…
EFRAG has published its Endorsement Advice Letter to the European Commission regarding the IASB’s Amendments to IFRS 9 and IFRS 7 on Contracts Referencing Nature-dependent Electricity. The IASB issued these Amendments on December 18, 2024, following their initial exposure draft (ED/2024/3) published in May 2024. The Amendments aim to improve the financial reporting of physical…
EFRAG has published a summary report on the educational session about IFRS 19, the IASB’s reduced disclosure standard, which took place on 2 December 2024. The session explored the practical application of IFRS 19, particularly its impact on European entities. The event provided a comprehensive overview of IFRS 19, focusing on the standard’s key aspects,…
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EFRAG announced the release of new Explanations addressing five environmental questions, bringing the total number of answered questions to 162. The December 2024 batch includes key Explanations on topics like climate change mitigation and adaptation targets, as well as biodiversity and ecosystems. These updates are particularly relevant to specific sectors, offering valuable insights for those…
EFRAG has announced the release of 23 new explanations to be added to its Compilation of Technical Explanations, bringing the total to 93 entries. These updates are designed to assist stakeholders in the effective implementation of the European Sustainability Reporting Standards (ESRS) via the EFRAG ESRS Q&A Platform. Key Updates There are now 93…
EFRAG has published its Draft Endorsement Advice (DEA) on Contracts Referencing Nature-dependent Electricity, which includes proposed amendments to IFRS 9 and IFRS 7. Stakeholders are invited to submit their comments by 13 January 2025. Objective of the Amendments The objective of the Amendments is to better reflect the impact of physical and virtual nature-dependent…
EFRAG has published its Draft Comment Letter (DCL) on the IASB’s Exposure Draft IASB/ED/2024/8 on Provisions—Targeted Improvements (proposed amendments to IAS 37). The consultation period for the DCL is open until 25 February 2025. EFRAG’s DCL outlines its preliminary views on the proposed amendments and asks constituents to provide feedback on key aspects before finalizing…
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…
EFRAG is extending its search for members to join the Rate-regulated Activities Working Group (EFRAG RRAWG). This group plays a key role in supporting the endorsement process for the upcoming IFRS Accounting Standard on regulatory assets and liabilities, expected in late 2025. Work of the EFRAG Rate-regulated Activities Working Group Provide specialist accounting expertise…