EFRAG issues feedback statement on its draft comment letter on the disclosure initiative
27 Aug 2014
The European Financial Reporting Advisory Group (EFRAG) has issued a feedback statement to summarise the comments received by the EFRAG on its draft comment letter on the disclosure initiative (proposed amendments to IAS 1).
On 25 March 2014, the IASB published an exposure draft containing a number of amendments to IAS 1. In response to the exposure draft, the EFRAG issued a draft comment letter that noted its support for the project and provided several suggestions to improve the proposed amendments. The EFRAG’s feedback statement provides the main comments received from constituents on its draft comment letter. The general consensus from constituents was "almost all respondents welcomed the IASB’s proposals in the ED and the overall message of the EFRAG draft comment letter. However, the majority of respondents that answered our questions did not agree with EFRAG’s suggestion to prohibit disclosure of immaterial information. Constituents also raised a number of minor concerns on the other topics covered by the amendments."
For more details on the feedback statement, please see (links to EFRAG website):
