The European Financial Reporting Advisory Group (EFRAG) has published a summary of key developments in financial reporting, following its recent seminar on upcoming regulatory changes and reporting priorities.
Key Highlights:
IASB 2025 Workplan – The International Accounting Standards Board (IASB) will focus on key projects, including intangibles, statement of cash flows, and climate-related uncertainties.
EFRAG’s Priorities – The organization will concentrate on endorsement advice, sustainability reporting integration, and pollutant pricing mechanisms.
IFRS 18 Updates – The new Presentation and Disclosure Standard will improve transparency and comparability in income statements, effective 2027.
IAS 7 Review – Efforts are underway to modernize the statement of cash flows, addressing classification challenges and aligning with evolving reporting needs.
Intangibles Reporting – EFRAG is working to enhance disclosures for digital assets, research & development (R&D), and unrecognized intangibles, ensuring greater clarity for investors.
Looking Ahead
The seminar reinforced the importance of financial and sustainability reporting alignment to enhance transparency, investor confidence, and regulatory compliance. EFRAG will continue engaging with stakeholders as it refines its reporting standards for the years ahead.
To find out more details please visit : https://www.efrag.org/