EFRAG consultation on IASB agenda and EFRAG research agenda
- Completed
- Consultation
- Saskia Slomp, Rasmus Sommer, Juan Jose Gomez de la Calzada, Didier Andries
Description
The IASB is required to undertake a public consultation on its work plan every five years. The RFI was published on 30 March 2021 and covers the IASB's activities over the period 2022-2026.
The primary objective of the IASB agenda consultation is to seek public comments on:
(a) the strategic direction and balance of the IASB's activities;
(b) the criteria for assessing the priority of financial reporting issues that may be added to the IASB's work plan; and
(c) priority projects i.e., financial reporting issues that should be given priority in the IASB's work plan.
EFRAG is combining its consultation on its tentative response to the IASB's RFI with its own proactive agenda consultation to foster synergies and alleviate the burden for respondents.
On 20 May 2021, EFRAG issued a joint consultation document seeking input on:
- Its draft comment letter in response to the IASB's request for information (RFI) on its agenda consultation; and
- EFRAG's own proactive research agenda.
On 4 June 2021 EFRAG issued a survey about the IASB's Third Agenda Consultation and EFRAG's Proactive Research Agenda. Constituents could choose between filling in the survey and sending a comment letter.
On 9 September 2021 a joint webinar was organised by EFRAG, IASB, EFFAS, Business Europe and Accountancy Europe.
EFRAG received 16 comment letters and seven responses to the survey.
The final comment letter was published on 11 October 2021. EFRAG considered that the overall balance of the activities of the IASB is generally appropriate. EFRAG further suggested the IASB to identify a separate area of its activities to addres the activity between financial reporting and sustainability reporting and to increase the resources devoted to digital reporting.
EFRAG identified the following high priority projects, ranked according to their priority:
- Intangibles;
- Sustainability in financial reporting, starting from climate (including connectivity and pollutant pricing mechanisms);
- crypto assets-liabilities.
- Discontinued operations and disposal groups;
- Statement of cash flows and related matters; and
- Variable and contingent consideration.
Documents
Project news
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27/07/2022 - EFRAG's Feedback Statement on the IASB's Third Agenda Consultation and EFRAG's own Proactive Research Agenda
EFRAG has published its Feedback Statement related to its Final Comment Letter on the IASB's Third Agenda Consultation Request for Information and EFRAG's own Proactive Research Agenda.
Find the Feedback Statement here.
The Final Comment Letter is available here.
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11/10/2021 - EFRAG Final Comment Letter on the IASB Agenda Consultation
EFRAG has published its Comment Letter on the IASB's Third Agenda Consultation Request for Information. It provides EFRAG's views on the projects the IASB should prioritise in its work plan for 2022 to 2026.
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27/07/2021 - EFRAG- Podcast - IASB’s future agenda and EFRAG’s proactive research agenda
Listen now to the EFRAG podcast on Spotify or YouTube on EFRAG’s Joint consultation on IASB’s future agenda and EFRAG’s proactive research agenda.
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04/06/2021 - Your input wanted on the EFRAG survey relating to the IASB's future agenda and EFRAG's proactive research agenda
EFRAG encourages constituents to participate in a survey about the IASB's Third Agenda Consultation and EFRAG's Proactive Research Agenda. Responses are requested by 17 September 2021.
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20/05/2021 - EFRAG’s joint consultation on the IASB’s future agenda and on EFRAG’s proactive research agenda
EFRAG is issuing a joint consultation document seeking input on:
Its draft comment letter in response to the IASB’s request for information (RFI) on its agenda consultation; and
EFRAG’s own proactive research agenda.
By combining the two consultations, EFRAG expects that the priorities identified by European constituents will also inform the selection of EFRAG's own proactive research projects to be undertaken from 2022 onwards; in particular if projects considered to be high priorities are not selected by the IASB for its 2022-2026 work plan.
Stakeholders can provide inputs about project priorities by way of an online survey (the link to the online survey will be provided in a separate news items). The link to the online survey will be provided in a separate news items.
Comments are requested no later than 17 September 2021.
