EFRAG issues positive endorsement advice on IFRS 16
27 Mar 2017
The European Financial Reporting Advisory Group (EFRAG) has issued final endorsement advice for IFRS 16 ‘Leases’.
EFRAG assesses that the standard meets all technical endorsement criteria of the IAS Regulation. While some limitations with regard to relevance, reliability and comparability were identified, the EFRAG determined that they constitute “acceptable trade-off between the objective of achieving a complete and faithful representation of information on the one hand and reducing complexity of applying IFRS 16 on the other hand.” In addition, the EFRAG assesses that adopting the standard would be conducive to the European public good.
Please click to access the press release that offers access to the endorsement advice on the EFRAG website. EFRAG has also updated its endorsement status report, which can be downloaded here.
