EFRAG issues final endorsement advice on ‘Amendments to References to the Conceptual Framework in IFRS Standards’
17 Oct, 2018
The European Financial Reporting Advisory Group (EFRAG) has issued its final endorsement advice letter relating to the use in the European Union (EU) of ‘Amendments to References to the Conceptual Framework in IFRS Standards’ (“the Amendments”).
The Amendments, published in March 2018, update some of the references and quotations in IFRS Standards and Interpretations so that they refer to the revised Conceptual Framework or specify the version of the Conceptual Framework to which they refer.
EFRAG recommends the endorsement of the Amendments. EFRAG’s assessment is that the Amendments meet the technical requirements of the Regulation (EC) No 1606/2002 of the European Parliament and of the Council on the application of international accounting standards. EFRAG also assesses that endorsing the Amendments is conducive to the European Public good.
A press release and the endorsement advice letter to the European Commission are available on the EFRAG website. EFRAG has also updated its endorsement status report.
