EFRAG publishes Exposure Draft Due Process Procedures for Financial Reporting for consultation
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19 September 2024 EFRAG has published the Exposure Draft Due Process Procedures for the Financial Reporting Activities (the ED). The ED formalises the due process procedures used for the financial reporting activities. Please provide your comments by 31 December 2024.A summary of the EFRAG Exposure Draft is made available here. Submit your comment EFRAG has issued the ED Due Process Procedures for the Financial Reporting Activities (DPP) with the aim of formalising the existing due process applied for its financial reporting activities. As EFRAG’s due process is based on interaction with and input from its stakeholders, their acceptance of this DPP is essential. This is why this ED on DPP for the EFRAG financial reporting activities has been developed and issued for public consultation. The ED sets out the due process requirements to be followed by EFRAG in its role as technical advisor to the European Commission, in its contribution to the IASB’s standard-setting process by providing European views including through proactive research activities and technical advice to the European Commission on the endorsement of IFRS Accounting Standards. It details the requirements for the due process for the preparation of the documents as laid down in the EFRAG Statutes (Article 7.3.4 (b)) and EFRAG Internal Rules (Article 17). The DPP should be read in the context of these EFRAG Statutes and EFRAG Internal Rules To find out more details please visit : https://www.efrag.org/ |