EFRAG draft comment letter on IFRS for SMEs draft Q&As
Dec 02, 2011
The European Financial Reporting Advisory Group (EFRAG) has issued its draft comment letter on the SME Implementation Group's (SMEIG) two draft questions and answers.
For the draft Q&A Fallback to IFRS 9 Financial Instruments, the EFRAG agress with the answer provided and thinks the Q&A should be issued. In regards to draft Q&A Recycling of cumulative exchange differences on disposal of a subsidiary, the EFRAG also agrees with the answer provided but does not think the Q&A should be issued.
Comments on the letter are invited by 18 January 2012. The draft comment letter can be downloaded via the press release on EFRAG's website.