EFRAG reiterated its comments about the need for substantive and useful recognition and measurement simplifications, in particular drawing attention to a recent survey undertaken by the German standard-setter.
EFRAG reiterated some of the comments it made in its comment letter on the ED of an IFRS for SMEs, now called IFRS for Private Entities, about the need for substantive and useful recognition and measurement simplifications.
The letter also draws the IASB’s attention to a recent survey of the information needs of users of Private Entity financial statements undertaken by the German standard-setter. That survey confirms a number of the comments made in EFRAG’s comment letter.
Letter attached below
© EFRAG - European Financial Reporting Advisory Group
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