EFRAG final comment letter in response to the IASB's exposure draft annual improvements - volume 11
12 Dec, 2023
The European Financial Reporting Advisory Group (EFRAG) has published its final comment letter in response to the International Accounting Standards Board’s (IASB's) exposure draft on annual improvements - volume 11.
In its final comment letter, EFRAG welcomes the package of the annual improvements included in the exposure draft and agrees with the majority of the proposed amendments. In EFRAG's view, they would improve consistent application and understandability of the IFRS Accounting Standards.
However, EFRAG recommends the IASB to clarify the interaction between IFRS 9 and IFRS 16 as part of a narrow-scope standard-setting project and does not recommend to amend paragraph 2.1(b)(ii) as part of the Annual Improvements – Volume 11. EFRAG also recommends a reconsideration of the proposed amendment to IFRS 10 on de facto agents.
The press release and the final comment letter are available on the EFRAG website.
