Working relationship of EC and EFRAG
25 Mar 2006
The European Commission and the European Financial Reporting Advisory Group have entered into a formal Working Arrangement on issues relating to the application of International Financial Reporting Standards (IFRSs) in Europe.
EFRAG will continue to act as an advisor by providing endorsement advice to the EC and technical input to the standard setters, IASB, and IFRIC. Under the Working Arrangement EFRAG will participate proactively in the IASB's due process. EFRAG will, in close consultation with the Commission, participate in the early phases of debate on all issues related to the standard setting process and will, when requested by the Commission, attend working groups of IASB, liaise with European national standard setters, and hold Advisory fora. Click to download:
- Signed Working Agreement (PDF 64k).
- EC Press Release (PDF 84k).
- EFRAG Press Release (PDF 27k).