EFRAG Issues Final Comment Letter on the IASB ED Contracts for Renewable Electricity
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July 29, 2024 EFRAG has published its final comment letter (FCL) on the IASB’s Exposure Draft IASB/ED/2024/3 Contracts for Renewable Electricity, Proposed amendments to IFRS 9 and IFRS 7 (the ‘ED’). FRAG has published its final comment letter (FCL) on the IASB’s ED/2024/3 Contracts for Renewable Electricity, Proposed amendments to IFRS 9 and IFRS 7 (the ‘ED’). In the context of the European Green Deal and related policies, regulations and legislations, an increasing number of entities are entering into Power Purchase Agreements. EFRAG understands the urgency and prevalence of the matter that the IASB intends to address through the proposed amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures and supports the IASB in this task. EFRAG is supportive of the direction of the IASB’s proposals geared towards a narrow-scope application, addressing both own-use exception requirements as well as hedge accounting requirements. However, EFRAG provides some comments and suggestions for the IASB to consider. To find out more details please visit : https://www.efrag.org/ |