EFRAG Endorsement Advice on Contracts Referencing Nature-dependent Electricity – Amendments to IFRS 9 and IFRS 7 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…
The EFRAG & IASB Session on IFRS 19: Summary Report is Now Available 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. For more…
Introducing EFFAS’ Four New Certifications: Elevate Your Financial Expertise EFFAS is proud to announce the launch of four cutting-edge certifications, designed to empower finance professionals with the skills and recognition they need to thrive in today’s dynamic markets. These programs, each tailored to specific career paths within the financial industry, are your gateway to specialized…
EFRAG ESRS Q&A Platform: Compilation of Explanations – December 2024 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…
EFRAG Releases 23 New Explanations to Support ESRS Implementation 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…
EFRAG Seeks Comments on its Draft Endorsement Advice on Contracts Referencing Nature-dependent Electricity – Amendments to IFRS 9 and IFRS 7 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.…
EFRAG’s Draft Comment Letter on the IASB ED Provisions—Targeted Improvements 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…
EFRAG Survey for Preparers of Financial Statements of Rate-regulated Entities 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. …
Call to Join EFRAG´s Renewed Rate-regulated Activities Working Group 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 Submitted its Endorsement Advice on Annual Improvements to IFRS Accounting Standards – Volume 11 EFRAG completed its due process and submitted its Endorsement Advice to the European Commission concerning the Annual Improvements to IFRS Accounting Standards—Volume 11. For more information [here] Overview of the Amendments The Amendments provide limited changes that…