EFRAG draft comment letter on proposed annual improvements
06 Nov, 2023
The European Financial Reporting Advisory Group (EFRAG) has issued a draft comment letter on the IASB's proposed amendments to five standards as result of its annual improvements project.
In its draft comment letter, EFRAG welcomes the package of the annual improvements included in the ED 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 disagrees with the IASB's proposed amendment to IFRS 9 on derecognition of lease liabilities and recommends a reconsideration of the proposed amendment to IFRS 10 on de facto agents.
Comments on EFRAG's draft comment letter are requested by 28 November 2023. For more information, see the press release and the draft comment letter on the EFRAG website.
