The proposals envision a new structure, a budget of €3 million in 2009 doubling to €6 million in 2010, and an EFRAG technical staff of 20. Deloitte has submitted a
Letter of Comment on the Proposals (PDF 18k). While we support EFRAG's proposals to improve its ability to be a strong and coordinated European voice for high quality accounting standards for users in Europe, we caution that EFRAG's constitution should be clear that EFRAG is neither a standard-setter nor a replacement for the existing EU national standard-setters.