EFRAG seeks to be more 'proactive'
27 Jun 2005
The European Financial Reporting Advisory Group (EFRAG) has released a Position Paper (PDF 21k) on Proactive Accounting Activities in Europe: EFRAG and the National Standard Setters.
The objectives of the greater proactivity, as agreed by EFRAG and 17 European accounting standard setters, are:
- EFRAG and the national standard-setters (NSS) should work much more closely together to improve the input from Europe to the global standard-setting process.
- By working more closely together and pooling resources, Europe should become more involved in the IASB's work from an early stage.
- Increased co-operation will encourage the development of common views and ensure, as far as is practicable, that the messages Europe gives the IASB are consistent.