EFRAG submits endorsement advice on Amendments to IAS 1 and IAS 8

Released 08 July 2021

The European Financial Reporting Advisory Group (EFRAG) has completed its due process regarding Definition of Accounting Estimates (Amendments to IAS 8), and Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2) and has submitted its Endorsement Advice Letters to the European Commission.

The Amendments are effective for annual reporting periods beginning on or after 1 January 2023, with earlier application permitted.

Further information can be found at https://www.efrag.org/News/Project-505/EFRAGs-Endorsement-Advice-on-Definition-of-Accounting-Estimates-Amendments-to-IAS-8 and https://www.efrag.org/News/Project-506/EFRAGs-Endorsement-Advice-on-Disclosure-of-Accounting-Policies-Amendments-to-IAS-1-and-IFRS-Practice-Statement-2.

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