EFRAG 2006 annual review

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

29 Jun 2007

The European Financial Reporting Advisory Group (EFRAG) has published its Annual Review for 2006.

The Chairman's report  identifies a range of key events and activities in 2006, including:
  • IFRS implementation in Europe
  • A new formal working arrangement with the European Commission, Accounting Regulatory Committee, Roundtable for Consistent Application of IFRSs, and Standards Advice Review Group
  • New endorsement process under the IAS Regulation giving the European Parliament more influence in the endorsement process.
  • Pro-Active Activities in Europe (PAAinE)
  • IFRS convergence prospects with US GAAP
  • Meetings with the European national standard setters
  • Establishment of an EFRAG User Panel
  • Technical work responding to IASB Exposure Drafts and Discussion Papers and IFRIC Draft Interpretations and giving endorsement advice on issued standards and interpretations.

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