17/05/2024 - EFRAG Endorsement Status Report - Update
The endorsement by the European Commission of Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7) is now reflected in the Endorsement Status Report. The updated EFRAG Endorsement Status Report can be found here.
The European Union has published a Commission Regulation endorsing Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7).
The objective of the Amendments is to enhance the transparency of supplier finance arrangements and their effects on a company’s liabilities, cash flows and exposure to liquidity risk through additional disclosure requirements.
The Amendments are required to be applied to annual periods beginning on or after 1 January 2024, with earlier application permitted. However, there are some transition provisions that provide relief for the first year of application.
The publication can be found in the Official Journal of the European Union here.
The updated EFRAG Endorsement Status Report can be downloaded below and under the menu 'Endorsement Status'.
