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EFRAG issues draft endorsement advice on 'Extension of the Temporary Exemption from Applying IFRS 9 (Amendments to IFRS 4)'

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

06 Jul 2020

The European Financial Reporting Advisory Group (EFRAG) has issued a draft endorsement advice letter and a separate invitation to comment relating to the use in the European Union (EU) of 'Extension of the Temporary Exemption from Applying IFRS 9 (Amendments to IFRS 4)' ('the Amendments').

The Amendments change the effective date of the temporary exemption from IFRS 9 from 1 January 2021 to 1 January 2023.

EFRAG recommends the endorsement of the Amendments. EFRAG’s initial 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.

Comments are required by 03 July 2020

For more information, see the press release, draft endorsement advice letter and the invitation to comment on the EFRAG’s website. EFRAG has also updated its endorsement status report which is available here.

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