EFRAG Update December 2018

Released 02 January 2019

The European Financial Reporting Advisory Group (EFRAG) has published its EFRAG Update (December 2018) summarising public technical discussions held and decisions taken during that month.

This edition includes:

Publications

Draft Endorsement Advice - letter and separate invitation to comment relating to the endorsement for use in the EU of Definition of Material (Amendments to IAS 1 and IAS 8)

Summaries of Outreach Events - Financial Instruments with Characteristics of Equity

Open consultations

EFRAG’s Draft Endorsement Advice on Definition of Material (Amendments to IAS 1 and IAS 8) – closes 1 February 2019

EFRAG's Discussion Paper Non-exchange Transfer- closes 30 April 2019

EFRAG Board

The EFRAG Board met on 18 December and discussed the following topics:

IFRS 17 Insurance Contracts

IASB Research Project Goodwill and impairment

Update of work plan, review of EFRAG research program and other matters

EFRAG’s Draft Endorsement Advice on Definition of Material (Amendments to IAS 1 and IAS 8) approved

The EFRAG Board is expected to approve the following documents, using written procedures in January 2019:

EFRAG’s Draft Endorsement Advice on the IASB’s Publication Definition of a Business (Amendments to IFRS 3);

EFRAG’s Draft Comment Letter on the IASB’s Exposure Draft ED/2018/2 Onerous Contracts - Cost of Fulfilling a Contract (Proposed amendments to IAS).

EFRAG Board and EFRAG TEG (Jointly)

The following topics were discussed:

IASB Project Primary Financial Statements

IASB Discussion Paper DP/2018/1 Financial Instruments with Characteristics of Equity

IASB Project Disclosure Initiative – Targeted Standards-level Review of Disclosures

EFRAG Research Project Equity Instruments – Research on Measurement

EFRAG TEG

The following topics were discussed:

IASB Publication Definition of a Business (Amendments to IFRS 3)

IASB Discussion Paper DP/2018/1 Financial Instruments with Characteristics of Equity

IASB Exposure Draft ED/2018/2 Onerous Contracts - Cost of Fulfilling a Contract - Proposed amendments to IAS 37

EFRAG Research Project Equity Instruments – Research on Measurement

View EFRAG UPDATE DECEMBER 2018.

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