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EFRAG seeks comments on two endorsement proposals

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

29 Apr 2004

The European Financial Reporting Advisory Group (EFRAG) has invited comments by 24 May 2004 on two draft letters to the European Commission recommending the adoption of IFRS 3 Business Combinations, as well as the recently revised IAS 36 Impairment of Assets and IAS 38 Intangible Assets, for use in Europe.

Despite the favourable recommendation, the letters express EFRAG's "serious concern" about recognising in-process R&D as an asset and about recognising contingent liabilities. Click to download the draft IFRS 3 Letter (PDF 48k) and IAS 36 and 38 Letter (PDF 37k).

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