EFRAG 2006 annual review
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.
