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Updated EFRAG endorsement status report

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

22 Jul 2013

The European Financial Reporting Advisory Group (EFRAG) has updated its report showing the status of endorsement, under the EU Accounting Regulation, of each IFRS, including standards, interpretations, and amendments as EFRAG has issued draft endorsement advice regarding IFRIC 21 'Levies' last Friday.

IFRIC 21 provides guidance on when to recognise a liability for a levy imposed by a government, both for levies that are accounted for in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets and those where the timing and amount of the levy is certain.

EFRAG published its draft endorsement advice tentatively recommending to adopt IFRIC 21 for use in Europe on 19 July 2013. Currently, EFRAG believes that final endorsement of IFRIC 21 might be expected in the first quarter of 2014.

Please click for the EFRAG Endorsement Status Report as of 22 July 2013.

Correction list for hyphenation

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