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.

EFRAG draft comment letter on the proposed amendments to IAS 1 and IAS 8 regarding the definition of materiality

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

02 Oct 2017

The European Financial Reporting Advisory Group (EFRAG) has issued a draft comment letter on the IASB exposure draft ED/2017/6 'Definition of Material (Proposed amendments to IAS 1 and IAS 8)'.

EFRAG supports the IASB proposals as regards aligning the definition of 'material' in the Conceptual Framework and in the IFRSs and as regards replacing the threshold ‘could influence’ with ‘could reasonably be expected to influence’. However, EFRAG suggests defining 'material' information more directly as information that can reasonably be expected to influence the economic decisions that the primary users of financial statements make.

Comments on EFRAG's draft comment letter are requested by 5 January 2018. For more information, see the press release and the draft comment letter on the EFRAG 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.