The Update reports on the meeting of the EFRAG Board on 14 January and the meeting of the EFRAG Technical Expert Group (EFRAG TEG) on 28 - 30 January as well as written procedures of the EFRAG Board in January and two EFRAG TEG conference calls. The Update also lists EFRAG publications issued in January:

• a letter to the Trustees of the IFRS Foundation as part of their review of the Accounting Standards Advisory Forum (ASAF),
• a letter to the IFRS Interpretations Committee regarding tentative agenda decisions on the application of IFRS 11 Joint Arrangements,
• final comment letters in response to the IASB Exposure Drafts ED/2014/3 Recognition of Deferred Tax Assets for Unrealised Losses and ED/2014/4 Measuring Quoted Investments in Subsidiaries, Joint Ventures and Associates at Fair Value and the IASB Discussion Paper DP/2014/2 Reporting the Financial Effects of Rate Regulation,
• a feedback statement summarising constituent input and how it was taken into account in the finalisation of the comment letter in response to the IASB Discussion Paper DP/2014/1 Accounting for Dynamic Risk Management: a Portfolio Revaluation Approach to Macro Hedging.