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EFRAG issues feedback statement on the statement cash flows

  • EFRAG document (dk green) Image

01 Jun 2016

The European Financial Reporting Advisory Group (EFRAG) has published a feedback statement summarising comments received on its July 2015 discussion paper, 'The Statement of Cash Flows: Issues for Financial Institutions'.

EFRAG received eight comment letters in response to its discussion paper, which covered the following topics:

  • Requirements and intended benefits of IAS 7 Statement of Cash Flows;
  • Requirements in IAS 7 specifically relevant to financial institutions, including views on the usefulness to financial institutions;
  • Alternatives related to:
    • liquidity;
    • changes in assets and liabilities;
    • insurance companies;
    • narrower amendments.

According to the feedback statement:

All respondents shared concerns about the relevance of the statement of cash flows for financial institutions and thus were supportive for the EFRAG’s proactive initiative. However, the views on how this issue should be addressed diverged significantly among respondents. Nevertheless the comments received provide valuable inputs for further research.

The feedback statement is available on EFRAG's website.

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