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INVITATION TO COMMENT ON EFRAG'S ASSESSMENTS ON Amendments to References to the Conceptual Framework in IFRS Standards

Introduction

Introduction

EFRAG has been asked by the European Commission to provide it with advice and supporting material on Amendments to References to the Conceptual Framework in IFRS Standards (‘the Amendments’). In order to do so, EFRAG has been carrying out an assessment of the Amendments against the technical criteria for endorsement set out in Regulation (EC) No 1606/2002 and has also been assessing the costs and benefits that would arise from their implementation in the European Union (‘the EU’) and European Economic Area.

A summary of the Amendments is set out in Appendix 1 of the Draft Letter to the European Commission regarding endorsement of the Amendments, available for download from the EFRAG website here.

Before finalising its assessment, EFRAG would welcome your views on the issues set out below. Please note that all responses received will be placed on the public record, unless the respondent requests confidentiality. In the interests of transparency, EFRAG will wish to discuss the responses it receives in a public meeting, so it is preferable that all responses can be published.

Comments should be submitted by 14 September 2018.

EFRAG’s initial assessments, summarised in this questionnaire, will be updated for comments received from constituents when EFRAG is in the process of finalising its Letter to the European Commission regarding endorsement of the Amendments.