EFRAG: Keeping European constituents informed of the debate on Conceptual Framework

15 February 2013

Following issuance of their strategy, the project partners EFRAG, ANC, ASCG, OIC and FRC have decided to produce regular newsletters to keep European stakeholders informed of all project developments.

On 6 February 2013, EFRAG, ANC, ASCG, OIC and FRC issued their strategy for work on the Conceptual Framework of the IASB.

In order to be informed of the debate developments with the IASB and other stakeholders, the project partners decided to produce regular newsletters, of which this is the first.

In this edition, the IASB has agreed on a plan to finalise the last chapters of the Conceptual Framework by September 2015. According to that plan, a Discussion Paper should be issued in July 2013 which will cover:

• Elements of financial statements (including recognition and derecognition)
• Measurement
• Reporting entity (the IASB may, however, decide not to address the issue until an Exposure Draft is issued)
• Presentation and disclosure (including questions about the use of other comprehensive income (OCI)).

While the IASB has not made any technical decisions yet, as of 14 February 2013 it has held sessions on: the reporting entity; measurement; liability/equity; definitions of assets and liabilities; and presentation (including OCI).

Press release

Newsletter

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