EFRAG consults both on its assessment of the amendment against the EU endorsement criteria and on its initial assessment of the costs and benefits that would arise from the implementation of the amendment in the EU.
EFRAG invites comments on the endorsement for use in the EU of the revised version of IFRS 1. It is consulting both on its assessment of the amendment against the EU endorsement criteria and on its initial assessment of the costs and benefits that would arise from the implementation of the amendment in the EU.
The objective of replacing the existing IFRS 1 with the Restructured IFRS 1 is to make IFRS 1 easier to use and amend in the future. The intention is that the requirements should not change.
Comments are requested by 13 March 2008.
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