EFRAG draft comment letter on proposed amendments to IAS 8 regarding agenda decisions
24 Apr, 2018
The European Financial Reporting Advisory Group (EFRAG) has issued a draft comment letter on the IASB exposure draft ED/2018/1 'Accounting Policy Changes (Proposed amendments to IAS 8)'.
EFRAG does not support the proposals in the ED. EFRAG disagrees with introducing a distinction between voluntary changes in accounting policies resulting from agenda decisions and other voluntary changes as EFRAG considers that the proposals in the ED raise broader questions about the status and the objectives of agenda decisions. EFRAG also considers that the proposals in the ED may give rise to practical challenges if finalised in their current form.
Comments on EFRAG's draft comment letter are requested by 13 July 2018. For more information, see the press release and the draft comment letter on the EFRAG website.
