This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

FRC comments on the EFRAG 2015 proactive agenda consultation

  • FRC comment letter Image

06 Dec 2015

The Financial Reporting Council (FRC) has issued its comment letter on the European Financial Reporting Advisory Group’s (EFRAG’s) proactive agenda consultation.

The consultation was launched by the EFRAG in October 2015 and seeks views on the recent proactive work performed by the EFRAG as well as future proactive activities relevant for Europe.

In its comment letter the FRC highlights the following:

  • It is important that the EFRAG remains independent from the International Accounting Standards Board (IASB) “so that it can provide a distinctive European voice in the development of IFRSs”.
  • That the EFRAG should undertake more work on areas of the Conceptual Framework that require further development, should develop an impairment model for equity instruments and also continue with its work on its Transactions with Government project.  The FRC also indicates that the EFRAG should commence a project on how the public good is assessed, including the availability of quantifiable measures. 

The full comment letter is available on the FRC website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.