Updated EFRAG endorsement status report

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

09 May 2007

The European Financial Reporting Advisory Group has updated its report showing the status of endorsement, under the EU Accounting Regulation, of each IFRS, including standards, interpretations, and amendments.

Click to download the Endorsement Status Report as of 4 May 2007(PDF 37k). Currently, the following IASB pronouncements have not yet been endorsed for use in Europe:
  • IFRS 8 Operating Segments
  • IAS 23 Borrowing Costs (revised March 2007)
  • IFRIC 10 Interim Financial Reporting and Impairment
  • IFRIC 11 IFRS 2: Group and Treasury Share Transactions
  • IFRIC 12 Service Concession Arrangements

The 4 May 2007 report indicates that:

  • No decision has as yet been taken as to when the ARC will be asked to vote on IFRIC 12.
  • The Commission will not vote to endorse IFRS 8 before September 2007, and probably a bit later. EFRAG's website says: "The European Parliament has in effect postponed its decision on the endorsement of IFRS 8 Operating Segments until at least September 2007. [See the IAS Plus News Story of 27 April 2007.] The implications for European companies are that IFRS 8 at present is not part of the IFRSs adopted in the European Union. Therefore IAS 14 is still the standard adopted in relation to reporting segment information in the EU."

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