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EFRAG supports proposed amendments to IFRSs 1 and 6

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

12 May 2005

EFRAG has invited comments (by 31 May 2005) on its Draft Letter to the IASB concerning the IASB's proposed small amendments to IFRS 6 and IFRS 1. The amendments would clarify that an entity that both (a) adopts IFRSs for the first time before 1 January 2006 and (b) applies IFRS 6 before that date is exempted not only from providing comparative prior-period disclosures but also from applying the recognition and measurement requirements of IFRS 6 in the prior comparative period.

EFRAG supports the IASB proposal.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.