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EFRAG final comment letter on proposed improvements to IFRS 8

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

03 Aug 2017

The European Financial Reporting Advisory Group (EFRAG) has issued its final comment letter on the IASB exposure draft ED/2017/2 'Improvements to IFRS 8 'Operating Segments' (Proposed amendments to IFRS 8 and IAS 34)'.

EFRAG broadly agrees with the IASB proposals; however, EFRAG disagrees with the proposal to require an entity to explain in the notes why the reportable segments identified in an entity's financial statements are different to the segments reported outside of the financial statements. EFRAG also believes that the proposed definition of an entity's 'annual reporting package' may prove difficult to apply in practice.

The press release and final comment letter are available on the EFRAG website.

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