Author: EFRAG

EFRAG is seeking feedback on its assessment of the Annual Improvements to IFRS Accounting Standards—Volume 11 (‘the Amendments’) based on the EU’s technical endorsement criteria and their alignment with the European public good.Deadline for comments: 22 November 2024. Have a look at the draft endorsement advice letter here.Submit your comment letter here EFRAG has issued a draft endorsement advice …

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​EFRAG has completed its due process regarding Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7) (‘the Amendments’) and has submitted its Endorsement Advice to the European Commission. ​The Amendments mainly respond to a request from stakeholders to clarify some aspects of the application guidance for assessing the …

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Brussels, Belgium, and Vernier, Switzerland – 27 September 2024 – EFRAG and the Taskforce on Inequality and Social-related Financial Disclosures (TISFD) Secretariat have signed a cooperation agreement aimed at advancing the development and adoption of social-related financial disclosures. This collaboration seeks to promote global disclosure frameworks that enable businesses and financial institutions to understand and …

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EFRAG has published its draft comment letter (DCL) on the IASB’s Exposure Draft IASB/ED/2024/4 Translation to a Hyperinflationary Presentation Currency – Proposed amendments to IAS 21 (the ‘ED’). Feedback on EFRAG’s DCL is highly appreciated and should be received by 28 October 2024 to allow EFRAG to comply with the IASB’s deadline set for commenting …

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EFRAG has published its draft comment letter (DCL) on the IASB’s Exposure Draft IASB/ED/2024/5 Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures (the ‘ED’). Comments on EFRAG’s DCL can be submitted by 13 November 2024. You are asked to provide your input on the draft comment letter by clicking on the ‘Submit your comment’ …

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Today EFRAG publishes its XBRL Taxonomy for ESRS Set 1, which enables the digital tagging of ESRS statements. In addition, EFRAG publishes the XBRL Taxonomy for Article 8 disclosures that the EC requested EFRAG prepare. The digital taxonomies enable the marking up (‘tagging’) of sustainability reporting in machine-readable XBRL format. EFRAG was tasked by the European Commission (EC) …

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EFRAG is pleased to issue today its Study: ‘State of play as of Q2 2024 | Implementation of European Sustainability Reporting Standards (ESRS): Initial Practices from Selected Companies’. The objective of this study is to illustrate preliminary practices related to the implementation of European Sustainability Reporting Standards (ESRS). The implementation of the ESRS is nascent and …

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The IFRS Foundation and EFRAG have published guidance material to illustrate the high level of alignment achieved between the International Sustainability Standards Board’s IFRS Sustainability Disclosure Standards and the European Sustainability Reporting Standards (ESRS) and how a company can apply both sets of standards, including detailed analysis of the alignment in climate-related disclosures. Having first …

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EFRAG launches today the public consultation on the Exposure Draft ESRS for listed SMEs (ESRS LSME ED) and the Exposure Draft for the voluntary reporting standard for non-listed SMEs (VSME ED). The consultation will be open until 21 May 2024. EFRAG invites preparers and users to participate in a field test and reminds them that the deadline …

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