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EFRAG publishes draft endorsement advice on IFRS 16

The European Financial Reporting Advisory Group (EFRAG) has published the draft endorsement advice on IFRS 16 after having assessed the standard as conducive to the European public good.

Following an initial consultation, EFRAG has concluded that IFRS 16 meets the qualitative characteristics of relevance, reliability, comparability and understandability, leads to prudent accounting, and it is not contrary to the true and fair view principle.

EFRAG also concluded that IFRS 16 would improve financial reporting.

EFRAG’s draft endorsement advice is open for comments until 13 March.

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