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• EFRAG updates endorsement status report for employee contributions to defined benefit plans

• 23 Dec, 2013

• EFRAG has updated its Endorsement Status Report to reflect the fact that draft endorsement advice has been published on 'Defined Benefit Plans: Employee Contributions' (Amendments to IAS 19 'Employee Benefits').

• EFRAG issues draft endorsement advice and effects study report on limited scope amendments to IAS 19

• 22 Dec, 2013

• The European Financial Reporting Advisory Group (EFRAG) has issued for comment its draft endorsement advice for the use of the amendments to International Accounting Standard (IAS) 19 (Defined Benefit Plans: Employee Contributions (Amendments to IAS 19) in the European Union (EU). EFRAG has also issued their Effects Study Report.

• EFRAG updates endorsement status report for amendments to IAS 36 and IAS 39

• 21 Dec, 2013

• The European Financial Reporting Advisory Group (EFRAG) has updated its endorsement status report to reflect the endorsement by the European Commission of the amendments to IAS 36 (Recoverable Amount Disclosures for Non-Financial Assets) and to IAS 39 (Novation of Derivatives and Continuation of Hedge Accounting).

• European Union formally adopts amendments concerning novations of derivatives and recoverable amount disclosures

• 20 Dec, 2013

• The European Union has published Commission Regulations endorsing 'Novation of Derivatives and Continuation of Hedge Accounting (Amendments to IAS 39)' and 'Recoverable Amount Disclosures for Non-Financial Assets (Amendments to IAS 36)'.

• JURI approves draft law on additional disclosure requirements for social and environmental concerns

• 18 Dec, 2013

• The Legal Affairs Committee of the European Parliament (JURI), which is the committee responsible for changes in the legal requirements around company reporting, approved new draft legislation on Tuesday which will require certain large companies to provide additional information on social and environmental issues in their annual reports. The members of the Committee also voted to recommend the European Commission to consider proposing legislation in 2018 for country-specific reporting of profits, taxes and subsidies.

• EFRAG updates endorsement status report for annual improvements amendments

• 12 Dec, 2013

• The European Financial Reporting Advisory Group (EFRAG) has updated its endorsement status report to reflect the release by the IASB of annual improvements to IFRSs for the 2010–2012 and 2011–2013 cycles.

• EBA publishes follow-up review of banks transparency in their 2012 reports

• 09 Dec, 2013

• The European Banking Authority (EBA) published today its assessment of the disclosures made by 19 European institutions in response to the Basel Pillar 3 requirements, as set out in the EU Capital Requirements Directive (CRD). In their view, despite improvements in some specific areas, credit institutions' compliance with disclosure requirements has not improved from last year's assessment, where no bank had fully met all the requirements. The report also highlights that the comparability and consistency of disclosures between the different institutions could be improved.

• IFRS Foundation publishes its comments on the Maystadt Report

• 05 Dec, 2013

• The IFRS Foundation has posted to its website comments on the final report of the special advisor to EU Commissioner Michel Barnier, Mr Philippe Maystadt, setting out his preliminary recommendations for enhancing the EU’s role in promoting high quality accounting standards.

• Agreement on the EU financing of IFRS Foundation, EFRAG, and PIOB

• 04 Dec, 2013

• Trilogue agreement has been reached by the three parties involved (the European Parliament, the Council and the Commission) on the EU co-financing of the International Financial Reporting Standards (IFRS) Foundation, the European Financial Reporting Advisory Group (EFRAG), and the Public Interest Oversight Board (PIOB).

• Notes from the joint FEE/ACCA conference on the Maystadt Review

• 04 Dec, 2013

• On 2 December 2013, the Federation of European Accountants (Fédération des Experts-comptables Européens, FEE) and the Association of Chartered Certified Accountants (ACCA) offered a joint roundtable to discuss the report on EU influence over global financial reporting standards with Philippe Maystadt. Deloitte observers at the conference have taken notes of the discussions.

• EFRAG updates endorsement status report for recent releases and expected timings

• 03 Dec, 2013

• The European Financial Reporting Advisory Group (EFRAG) has updated its endorsement status report to reflect the release by the IASB of amendments to IAS 19, the general hedge accounting amendments to IFRS 9, and to reflect changes in the expected timing of the Accounting Regulatory Committee’s opinion on IFRIC 21.

• European consultation on public sector standard setting

• 02 Dec, 2013

• The European Commission and its directorate-general Eurostat, have released a public consultation paper dealing with the possible future implementation of 'European Public Sector Accounting Standards' (EPSAS) in European Union (EU) member states. The report focuses on the issue of governance, and outlines views about the future governance arrangements and underlying key principles that might apply in the development of EPSAS.

• EFRAG strives to enlarge General Assembly

• 29 Nov, 2013

• In reaction to the Maystadt report released earlier this month, which received the unanimous support of the European Union's Economic and Financial Affairs Council (ECOFIN) to transform EFRAG, EFRAG is beginning to implement the changes concerning its own governance.

• EFRAG updates endorsement status report for IAS 19 amendments

• 28 Nov, 2013

• The European Financial Reporting Advisory Group has released an updated endorsement status report to reflect the recent issue by the International Accounting Standards Board (IASB) of amendments to IAS 19 'Employee Benefits'.

• Updated EFRAG endorsement status report

• 21 Nov, 2013

• The European Financial Reporting Advisory Group (EFRAG) has updated its report showing the status of endorsement, under the EU Accounting Regulation, of each IFRS, including standards, interpretations, and amendments. The latest report reflects the European Commission endorsement of 'Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27)'.

• European Union formally adopts investment entities amendments

• 21 Nov, 2013

• The European Union has published a Commission Regulation endorsing 'Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27)'.

• EBA publishes response to draft Maystadt report

• 19 Nov, 2013

• Following the publication of the final Maystadt report, the European Banking Authority (EBA) has made available its response to the draft of the report. As with the ESMA response to the draft report published last week, the core points remain applicable even though the final Maystadt report has undergone some changes vis-à-vis the draft version.

• ESMA reviews disclosures of financial statements by financial institutions

• 18 Nov, 2013

• The European Securities and Markets Authority (ESMA) has issued a report, “Review of Accounting Practices: Comparability of IFRS Financial Statements of Financial Institutions in Europe”, which provides an overview of financial institutions’ accounting practices in selected areas of financial instruments. In particular, it assessed the comparability and quality of the disclosures in 2012 IFRS financial statements from 39 major European financial institutions. The report also provides recommendations to enhance transparency of financial information.

• FEE upcoming roundtable for public sector accounting

• 15 Nov, 2013

• The Federation of European Accountants (Fédération des Experts-comptables Européens — FEE) will be hosting a roundtable on 22 January 2014 in Brussels on EU standard-setting in the public sector.

• ESMA publishes response to draft Maystadt report

• 14 Nov, 2013

• Following the publication of the final Maystadt report, the European Securities and Markets Authority (ESMA) has made available its response to the draft of the report. The final report has undergone some changes vis-à-vis the draft version but the main recommendations remained the same so ESMA's core points remain applicable.

• EFRAG issues feedback statement on its draft comment letter for bearer plants

• 13 Nov, 2013

• The European Financial Reporting Advisory Group (EFRAG) has issued a feedback statement to summarise the comments received by the EFRAG on its draft comment letter on bearer plants.

• EU Transparency Directive published, disclosure on non-financial information moving along

• 13 Nov, 2013

• The new European Transparency Directive has been published in the Official Journal and enters into force on the twentieth day following its publication. Additionally, a draft report on the proposal for disclosure of non-financial and diversity information by certain large companies and groups was presented to the European Parliament committee on legal affairs (JURI).

• Commissioner Barnier comments on the publication of the Maystadt report

• 13 Nov, 2013

• EU Commissioner Michel Barnier has commented on the publication of the report regarding preliminary recommendations for enhancing the EU’s role in promoting high quality accounting standards that his special advisor, Mr Philippe Maystadt, compiled on his behalf.

• Final Maystadt report available

• 11 Nov, 2013

• In preparation for a meeting of the European Union's Economic and Financial Affairs Council (ECOFIN) next Friday where the special advisor to EU Commissioner Michel Barnier, Mr Philippe Maystadt, will present his report setting out his preliminary recommendations for enhancing the EU’s role in promoting high quality accounting standards, the report has been made available on the website of the Council of the European Union. The report is at a very high level, and many implementation issues will have to be resolved when and if the proposals are implemented.

• Joint FEE/ACCA roundtable on the Maystadt review

• 31 Oct, 2013

• On 15 November 2013, the special advisor to EU Commissioner Michel Barnier, Mr Philippe Maystadt, is expected to present his final recommendations for enhancing the EU’s role in promoting high quality accounting standards at the Economic and Financial Affairs Council (ECOFIN) of the European Union. On 2 December 2013, the Federation of European Accountants (Fédération des Experts-comptables Européens, FEE) and the Association of Chartered Certified Accountants (ACCA) offer a joint roundtable to discuss the findings of the review with Mr Maystadt.