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EFRAG updates endorsement status report for recent releases and expected timings

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

03 Dec 2013

The European Financial Reporting Advisory Group (EFRAG) has updated its endorsement status report to reflect the release by the IASB of amendments to IAS 19, the general hedge accounting amendments to IFRS 9, and to reflect changes in the expected timing of the Accounting Regulatory Committee’s opinion on IFRIC 21.

The endorsement status report notes the following changes:

  • The issue of Defined Benefit Plans: Employee Contributions (Amendments to IAS 19) on 21 November 2013, which is effective for annual periods beginning on or after 1 July 2014.  The report indicates the endorsement is currently expected in the third quarter of 2014*
  • The issue of Financial Instruments (Hedge Accounting and amendments to IFRS 9, IFRS 7 and IAS 39) on 19 November 2013, which introduced the general hedge accounting requirements to IFRS 9 and removed the mandatory effective date. Accordingly, the effective date of IFRS 9 was taken out of the report
  • The fact that the Accounting Regulatory Committee’s opinion on IFRIC 21 Levies will be voted in a future meeting.  The report notes that endorsement is expected in the second quarter of 2014.

* These amendments were already included in the endorsement status report dated 27 November 2013.

The endorsement status report, dated 2 December 2013, is available here.

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