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Joint press release on IASB-EFRAG meeting

  • IASB (International Accounting Standards Board) Image
  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

Mar 13, 2012

The press release summarizes the issues discussed at the March 9, 2012, joint meeting of the IASB and EFRAG.

The IASB and the European Financial Reporting Advisory Group (EFRAG) have issued a press release on their joint meeting held on March 9, 2012, to discuss the status of ongoing projects and other topics. These meetings take place on a regular basis and are used to discuss European ideas and input into projects on the IASB's agenda. In addition to representatives from EFRAG, four European standard setters were represented: France, Germany, Italy, and the UK. The topics discussed were:

  • Insurance contracts.
  • Leases.
  • Financial instruments.
  • Revenue recognition.
  • ESMA paper on "materiality."
  • EFRAG's forthcoming discussion paper on the Disclosure Framework.
  • The potential for coordination on research projects, the due process for the IASB's forthcoming post-implementation reviews, and how user outreach can be coordinated.

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