EFRAG Update with summaries for the January 2012 EFRAG TEG meeting
The European Financial Reporting Advisory Group (EFRAG) has released the January 2012 issue of its EFRAG Update newsletter.
On 16–18 January 2012, the EFRAG held its TEG meeting. A highlight of the meeting was the finalisation of endorsement advices to the European Commission on IFRS 13, Amendments to IAS 12, IFRIC 20, and Amendments to IFRS 1. Also, EFRAG has prepared a draft endorsement on Disclosure — Offsetting Financial Assets and Financial Liabilities (Amendments to IFRS 7) and Offsetting Financial Assets and Financial Liabilities (Amendments to IAS 32), which it will publish next week.