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EFRAG draft comment letter on government loans

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18 Nov 2011

The European Financial Reporting Advisory Group (EFRAG) has issued its draft comment letter on the IASB Exposure Draft ED/2011/5 'Government Loans (Proposed amendments to IFRS 1)'.

EFRAG is supportive of what the proposed amendments are trying to achieve, but it believes that the Board should limit the scope of the proposed transitional relief to entities that, under their previous GAAP, accounted for government loans as liabilities.

Comments on the letter are invited by 27 December 2011. The draft comment letter can be downloaded via the press release on EFRAG's website.

Click for our earlier story on the issuance of ED/2011/5.

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