European Financial Reporting Advisory Group (EFRAG)

Background

The European Financial Reporting Advisory Group (EFRAG) was established in June 2001 by a broad group of organisations representing the European accounting profession, preparers, users, and national standard-setters with the following goals:

  • to provide technical expertise to the European Commission concerning the use of IAS within the Europe
  • to participate in IASB's standard setting process
  • to coordinate within the EU the development of views concerning international accounting standards.

 

Formation of EFRAG

EFRAG became operational in September 2001:

 

EFRAG structure

As a result of structural changes adopted in December 2008, EFRAG's structure is as follows:

EFRAG working agreement with the EC

On 23 March 2006, the European Commission and the European Financial Reporting Advisory Group entered into a formal Working Arrangement on issues relating to the application of International Financial Reporting Standards (IFRSs) in Europe. EFRAG will continue to act as an advisor by providing endorsement advice to the EC and technical input to the standard setters, IASB, and IFRIC. Under the Working Arrangement EFRAG will participate pro-actively in the IASB's due process. EFRAG will, in close consultation with the Commission, participate in the early phases of debate on all issues related to the standard setting process and will, when requested by the Commission, attend working groups of IASB, liaise with European national standard setters, and hold advisory fora.

EFRAG contact details

European Financial Reporting Advisory Group
35 Square de Meeûs
1000 Brussels (fifth floor), Belgium
Telephone: +32 (0) 2 210 44 00
Fax: +32 (0) 2 210 44 01
Email: info@efrag.org
Website: www.efrag.org

Related news

  • Updated EFRAG 'endorsement status report'

  • Apr 06, 2012

  • The European Financial Reporting Advisory Group (EFRAG) has updated its report showing the status of endorsement, under the EU Accounting Regulation, of each IFRS, including standards, interpretations, and amendments.

  • EFRAG publishes endorsement advice and effects study reports

  • Apr 06, 2012

  • The European Financial Reporting Advisory Group (EFRAG) has submitted to the European Commission its Endorsement Advice Letters and Effects Study Reports on IFRS 10, IFRS 11, IFRS 12, IAS 27 (2011), IAS 28 (2011), and amendments to IAS 32 and IFRS 7.

  • EFRAG to hold additional outreach meetings on proactive discussion papers

  • Mar 22, 2012

  • The European Financial Reporting Advisory Group (EFRAG) announced additional outreach meetings on 17 April 2012 in Amsterdam and 18 April 2012 in Vienna regarding discussion papers 'Accounting for business combinations under common control' and 'Improving the Financial Reporting of Income Tax'.

  • Updated EFRAG 'endorsement status report'

  • Mar 21, 2012

  • The European Financial Reporting Advisory Group (EFRAG) has updated its report showing the status of endorsement, under the EU Accounting Regulation, of each IFRS, including standards, interpretations, and amendments.

  • EFRAG, ASB and OIC to hold outreach meeting on proactive discussion papers

  • Mar 14, 2012

  • The European Financial Reporting Advisory Group (EFRAG), the UK Accounting Standards Board (ASB) and the Italian standard setter (Organismo Italiano di Contabilità, OIC) will hold an outreach meeting on 16 April 2012 in London regarding discussion papers Accounting for business combinations under common control and Improving the Financial Reporting of Income Tax.

  • Agenda for the IASB-EFRAG meeting

  • Mar 07, 2012

  • The agenda is now available for the IASB and European Financial Reporting Advisory Group (EFRAG) joint meeting to be held on Friday 9 March 2012 in London.

  • EFRAG and OIC to hold outreach meeting on proactive discussion papers

  • Feb 29, 2012

  • The European Financial Reporting Advisory Group (EFRAG) and the Italian standard setter (Organismo Italiano di Contabilità, OIC) will hold an outreach meeting on 15 March 2012 in Milan regarding discussion papers Accounting for business combinations under common control and Improving the Financial Reporting of Income Tax.

  • Updated EFRAG 'endorsement status report'

  • Feb 09, 2012

  • The European Financial Reporting Advisory Group (EFRAG) has updated its report showing the status of endorsement, under the EU Accounting Regulation, of each IFRS, including standards, interpretations, and amendments.

  • Updated EFRAG 'endorsement status report'

  • Jan 27, 2012

  • The European Financial Reporting Advisory Group (EFRAG) has updated its report showing the status of endorsement, under the EU Accounting Regulation, of each IFRS, including standards, interpretations, and amendments.

  • Updated EFRAG 'endorsement status report'

  • Jan 23, 2012

  • The European Financial Reporting Advisory Group (EFRAG) has updated its report showing the status of endorsement, under the EU Accounting Regulation, of each IFRS, including standards, interpretations, and amendments.

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