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EFRAG recommends endorsement of IFRIC 7

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

20 Jan 2006

The European Financial Reporting Advisory Group (EFRAG) has recommended that IFRIC 7 Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies be endorsed by the European Commission for use in Europe.

Click to download Endorsement Letter (PDF 85k). EFRAG has also posted on its Website:
  • A draft endorsement letter on the Adoption of an Amendment to IAS 21 - The Effects of Changes in Foreign Exchange Rates - Net Investment in a Foreign Operation (comments due 3 February 2006).
  • Preliminary views regarding the IASB Discussion Paper Management Commentary (comments due 24 March 2006).

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