EFRAG

FEE comments on the conceptual framework bulletins

01 Jul 2013

On 11 April 2013, EFRAG and the National Standard Setters of France, Germany, Italy and the United Kingdom published the first three issues of a joint publication series on the IASB's Conceptual Framework project. The European Federation of Accountants (Fédération des Experts Comptables Européens, FEE) has commented on these bulletins.

The Conceptual Framework Bulletins are intended to promote discussion and to inform about European views on the IASB's Conceptual Framework project where a discussion paper is due to be released in July 2013. The first three issues were dedicated to the concepts of prudence, the reliability of financial information, and uncertainty.

On the Conceptual Framework bulletin on prudence, FEE comments that "in itself, prudence should not be considered as a primary factor in the development of accounting standards". FEE suggests limiting the role of prudence in the development and in the application of accounting standards to a general exercise of caution and believes that the IASB Conceptual Framework would benefit from explaining the relationship between prudence and neutrality.

Regarding the Conceptual Framework bulletin on uncertainty, FEE agrees with the Bulletin’s tentative conclusion that uncertainty is not only a matter of measurement and that a probability-based threshold should be retained as part of the recognition criteria of assets and liabilities.

On the Conceptual Framework bulletin on the reliability of financial information, FEE agrees that reliability (including the idea of verifiability) needs to be reinstated as a fundamental characteristic of information in financial statements as FEE believes that "reliability" is a broader notion than the concept it was replaced with ("faithful representation").

You can access all comment letters on the FEE website:

EFRAG 2012 Annual Review

14 Jun 2013

The European Financial Reporting Advisory Group (EFRAG) has released its 2012 Annual Review.

The annual review describes how EFRAG contributed last year to enhancing Europe’s influence in the development of IFRS.

Please click for access to the 2012 annual review on the EFRAG website.

EFRAG Rate-Regulated Activities Working Group calls for members

19 Mar 2013

EFRAG has put out a call for applicants for its Rate-Regulated Activities Working Group. The Working Group's role is to advise and provide input on rate-regulated activities and its application within Europe to EFRAG TEG and EFRAG Consultative Forum of Standard Setters.

With a primary focus on the IASB's long-term rate-regulated activities project, the Working Group will aid the EFRAG in:

  • Rate-regulated activities issues within Europe and the views of European stakeholders;
  • Understanding the implications for European stakeholders of new proposals issued by the IASB, IFRIC, and others;
  • Ensuring European presence is part of the rate-regulated activities debate;
  • Obtaining expert advice and high-level input on the project;
  • Receiving input on technical assessments concerning issues from IFRS and IFRS Interpretations;
  • Being proactive;
  • Receiving project updates and advising on strategy and execution of the project.

The Working Group is intended to be a maximum of 15 members with a mix of different backgrounds and geographical balance.

The application period ends on 30 April 2013.

For more information, see the EFRAG press release.

EFRAG outreach on disclosures - event in Rome

29 Oct 2012

EFRAG outreach events on the EFRAG/ANC/FRC discussion paper on disclosures are currently being offered throughout Europe. Details for the event in Rome have now been announced.

The details are as follows:

  • Rome, 6 December 2012
  • Speakers include: Alessandro Sura, OIC Research Director, and Filippo Poli, EFRAG Senior Project Manager. Kristy Robinson, IASB Technical Principal will also attend.
  • More information: Please click here (link to EFRAG website)

EFRAG outreach on disclosures - event in Stockholm

19 Oct 2012

EFRAG outreach events on the IASB post–implementation review (PIR) of IFRS 8 'Operating Segments' and the EFRAG/ANC/FRC discussion paper on disclosures will be offered throughout Europe in October and November. Details for the event in Stockholm have now been announced. This outreach event is by invitation only and will focus on the disclosure discussion paper only.

The details are as follows:

  • Stockholm, 28 November 2012, 13:30 - 16:15 hrs
    More information: Please click here (link to EFRAG website)

EFRAG outreach on disclosures - event in London

18 Oct 2012

EFRAG outreach events on the IASB post–implementation review (PIR) of IFRS 8 'Operating Segments' and the EFRAG/ANC/FRC discussion paper on disclosures will be offered throughout Europe in October and November. Details for the event in London have now been announced. This outreach event will focus on the disclosure discussion paper only.

The details are as follows:

  • London, 31 October 2012, 17:45 - 20:00 hrs
    More information and registration: Please click here (link to EFRAG website)

EFRAG outreach on disclosures - event in Warsaw

12 Oct 2012

EFRAG and the Polish Accounting Standards Committee (KSR) in association with the National Chamber of Statutory Auditors (KiBR) and the Association of Accountants in Poland (SKwP), will be hosting an outreach event on the EFRAG/ANC/FRC discussion paper on disclosures on 8 November 2012.

The details are as follows:

  • Warsaw, 8 November 2012, 12:30 - 14:50 hrs
    More information and registration: Please click here (link to EFRAG website)

EFRAG outreach on disclosures - event in Vilnius

04 Oct 2012

EFRAG outreach events on the IASB post–implementation review (PIR) of IFRS 8 'Operating Segments' and the EFRAG/ANC/FRC discussion paper on disclosures will be offered throughout Europe in October and November. Details for the event in Vilnius have now been announced. This outreach event will focus on the disclosure discussion paper only.

The details are as follows:

  • Vilnius, 30 October 2012, 10:30 - 12:30 hrs
    More information and registration: Please click here (link to EFRAG website)

EFRAG outreach on disclosures - event in Amsterdam

01 Oct 2012

EFRAG outreach events on the IASB post–implementation review (PIR) of IFRS 8 'Operating Segments' and the EFRAG/ANC/FRC discussion paper on disclosures will be offered throughout Europe in October and November. Details for the event in Amsterdam have now been announced. This outreach event will focus on the disclosure discussion paper only.

The details are as follows:

  • Amsterdam, 27 November 2012, 12:30 - 15:30 hrs
    More information and registration: Please click here (link to EFRAG website)

EFRAG outreach on PIR IFRS 8 and on disclosures - events in Copenhagen and Frankfurt

25 Sep 2012

EFRAG outreach events on the IASB post–implementation review (PIR) of IFRS 8 'Operating Segments' and the EFRAG/ANC/FRC discussion paper on disclosures will be offered throughout Europe in October and November. Details for the events in Copenhagen and Frankfurt have now been announced.

They are as follows:

  • Copenhagen, 29 October 2012, 14:00 - 17:00 hrs
    More information and registration: Please click here (link to EFRAG website)
  • Frankfurt, 13 November 2012, 13:00 - 17:00 hrs
    More information and registration: Please click here (link to EFRAG website)

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