Following the issuance of the European Commission’s Recommendation on the Voluntary Sustainability Reporting Standard for SMEs (VSME) on 30 July 2025, EFRAG is pleased to launch a market acceptance progress survey. Objectives of the survey The survey aims to assess the current level of awareness and use of the VSME standard. It also seeks to …
EFRAG has released the summary report of the symposium ‘Sustainability Reporting Standards for SMEs—What are the issues?’ co-hosted with the Organismo Italiano di Contabilità (OIC). The event took place on 29 May 2025 at the 47th Annual Congress of the European Accounting Association (EAA). Chiara Del Prete, EFRAG SR TEG Chair, opened the event with …
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EFRAG has published its final endorsement advice on IFRS 19 Subsidiaries without Public Accountability: Disclosures, concluding that the standard meets all technical endorsement criteria and is conducive to the European public good. EFRAG, therefore, recommends its endorsement in the EU. In reaching this conclusion, EFRAG also assessed how IFRS 19’s reduced disclosure requirements interact with …
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EFRAG has issued its draft endorsement advice letter and a separate invitation to comment on the proposed EU adoption of Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures, issued by the IASB on 21 August 2025. IFRS 19 aims to simplify financial reporting for eligible subsidiaries by allowing them to prepare financial statements under …
In parallel to the public consultation on ESRS simplification , EFRAG has launched a cost-benefit analysis (CBA) conducted by external consultants. The purpose of this CBA is to assess the potential costs and benefits of the proposed simplifications to the ESRS. This initiative follows the request from the European Commission to simplify and streamline the …
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EGRAG is inviting preparers to apply by 18 August to join the field test on “Gross vs Net” and the non-EU adequate wages methodology. The call for participation was launched by EFRAG alongside the consultation on the Amended ESRS Exposure Drafts on 31st July. The field tests aim to assess intended clarity and consistency by …
Tune in to the new episode of the EFRAG Update podcast to learn about the latest developments in sustainability and financial reporting. Highlights of this episode include: The release of the Exposure Drafts of the revised European Sustainability Reporting Standards (ESRS) The adoption of the Voluntary Sustainability Reporting Standards for non-listed Micro-, Small, and Medium-sized …
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The Feedback Statement provides a summary of the feedback received from stakeholders, including comments on EFRAG’s draft comment letter. It also explains how this input was used to inform the final position in EFRAG’s Final Comment Letter (FCL), submitted to the IASB on 1 April 2025 in response to the IASB’s Exposure Draft IASB/ED/2024/8 Provisions—Targeted Improvements (the ED). …
The July 2025 EFRAG Update is now available. This report summarises the public technical discussions and decisions taken at EFRAG in the past month, open consultations, future events and vacancies. This month’s highlights include: The release of the Exposure Drafts of the revised European Sustainability Reporting Standards (ESRS) The adoption as a recommendation of the …
EFRAG publishes today the revised and simplified Exposure Drafts of the European Sustainability Reporting Standards (ESRS), launching a 60-day public consultation survey to gather feedback from stakeholders across the EU corporate reporting ecosystem. This major step follows the European Commission’s Omnibus initiative and its formal request to EFRAG in March 2025 to deliver a critical …