Joint press release on IASB-EFRAG Meeting

  • IASB (International Accounting Standards Board) (blue) Image
  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

13 Mar 2012

A summary of the issues discussed at the joint meeting held 9 March 2012 between the IASB and EFRAG.

The IASB and European Financial Reporting Advisory Group (EFRAG) have issued a press release on their joint meeting held on 9 March 2012 to discuss the status of ongoing projects and other topics. These meetings take place on a regular basis and are used to discuss European ideas and input into projects on the IASB's agenda. In addition to representatives from EFRAG, four European standard-setters were represented: France, Germany, Italy and the UK. The topics discussed were:

  • Insurance contracts
  • Leases
  • Financial instruments
  • Revenue recognition
  • ESMA paper on 'materiality'
  • EFRAG's forthcoming discussion paper on the Disclosure Framework
  • The potential for coordination on research projects, the due process for the IASB's forthcoming post-implementation reviews and how user outreach can be coordinated

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