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EFRAG releases draft endorsement on IAS 36 and 39 for comment

The European Financial Reporting Advisory Group (EFRAG) has issued an invitation for comment on its draft endorsement of the International Accounting Standards Board's (IASB) amendments to IAS 39 on novation of derivatives and continuation of hedge accounting and IAS 36 on recoverable amount disclosures for non financial assets, in the EU.

EFRAG's initial assessment judged that the amendments satisfy the technical criteria for EU endorsement, and is consulting on this technical criteria judgement, as well as the costs and benefits that would arise from implementation.

The IASB has already acknowledged that some of the amendments made to IAS 36 had the effect of applying requirements more broadly than the IASB intended.

The deadline for comments on both IAS's is 11 July 2013.


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European Financial Reporting Advisory Group

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