EFRAG Update detailing March and April developments
09 Apr, 2014
The European Financial Reporting Advisory Group (EFRAG) has released a new issue of its EFRAG Update newsletter, summarising the discussions held on the EFRAG TEG conference calls of 11 and 21 March 2014 and at the EFRAG TEG meeting of 2-3 April 2014.
Highlights were the adoption of:
- a letter sent to the IASB about the IASB Exposure Draft ED/2012/3 Equity Method: Share of Other Net Asset Changes -Proposed amendments to IAS 28,
- a draft comment letter on the ESMA Consultation Paper Guidelines on Alternative Performance Measures,
- a draft comment letter on the IASB Exposure Draft ED/2014/1 Disclosure Initiative – Proposed amendments to IAS 1 (draft comment letter not made publicly available yet),
- endorsement advice on the annual improvements to IFRS (cycles 2010-2012 and 2011-2013),
- a feedback statement on the IASB Exposure Draft ED/2013/9 Proposed Amendments to the IFRS for SMEs detailing the comments EFRAG received on its draft comment letter.
Additional topics discussed in the newsletter are:
- Revenue recognition,
- Leases,
- Macro hedging,
- Insurance contracts,
- IFRS Interpretation Committee issues,
- Issues related to IFRS 2,
- IASB discussion paper on the conceptual framework,
- Conceptual framework bulletins,
- EFRAG working group results,
- Long-term investment business models,
- Rate regulation,
- EFRAG 'Short Discussion Series' - IAS 37,
- Joint papers on goodwill and business combinations.
Click for the EFRAG Update (link to EFRAG website).