EFRAG Update detailing June/July developments
22 Jul, 2014
The European Financial Reporting Advisory Group (EFRAG) has released a new issue of its 'EFRAG Update' newsletter, summarising the discussions held at the EFRAG TEG conference calls of 24 June and 3 July 2014 and the EFRAG TEG meeting of 14-16 July 2014.
Highlights included the issuance of two draft comment letters related to (1) IASB’s discussion paper on macro hedging and (2) IASB’s exposure draft on investment entities and approved a final comment letter on the IASB’s proposed amendments to IAS 1. In addition, the EFRAG TEG approved:
- An invitation to comment relating to the endorsement for use in the European Union and European Economic Area of IASB publication on bearer plants.
- An EFRAG/ICAC/OIC/RJ discussion paper on separate financial statements.
- Two short discussion series papers on the presentation of the reversal of acquisition ‘step-ups’ and the question of whether IFRIC 21 unveiled issues in IAS 37.
Additional topics discussed in the newsletter are:
- IFRS 15
- IASB’s annual improvements to IFRS (2012-2014 cycle)
- EFRAG/ANC/FRC research paper The Role of the Business Model in Financial Statements
- EFRAG Short Discussion Series paper on equity method
- Conceptual framework
- Insurance contracts
- Rate-regulated activities
Please click for the new issue of the EFRAG Update (link to EFRAG website).
