EFRAG: Europe's Voice in Corporate Reporting

Introduction to EFRAG

• EFRAG stands for European Financial Reporting Advisory Group.
• Established in 2001, encouraged by the European Commission.
• Serves the European public interest in financial and sustainability reporting.
• Provides Technical Advice to the European Commission.

EFRAG's Mission

• Develop and promote European views in corporate reporting.
• Focuses on two main pillars:
  • Financial Reporting Pillar: Influences IFRS Standards from a European perspective and provides endorsement advice.
  • Sustainability Reporting Pillar: Develops draft EU Sustainability Reporting Standards.

EFRAG's Structure

• Comprised of various boards and technical expert groups:
  • EFRAG Administrative Board
  • EFRAG Financial Reporting Board
  • EFRAG Financial Reporting Technical Expert Group
  • EFRAG Sustainability Reporting Board
  • EFRAG Sustainability Reporting Technical Expert Group

Recent Activities and News

• Work Plan to Simplify ESRS: EFRAG delivered a work plan to the European Commission to simplify the ESRS by October 2025.
• Call for Input on ESRS Set 1 Revision: EFRAG is gathering feedback for ESRS Set 1 Revision with a deadline of 6 May 2025.
• Endorsement Advice on IFRS 18: Submitted to the European Commission regarding Presentation and Disclosure in Financial Statements.
• VSME Event Report: Recently available report and resources.

Governance and Technical Bodies

• Ensures the integration of European perspectives in international standards.
• Conducts consultations and gathers input from stakeholders.

Upcoming Meetings & Events

• Regular meetings and consultations to engage with stakeholders.
• Detailed calendar available for public and closed meetings.

Publications and Resources

• Provides access to news, events, and publications related to financial and sustainability reporting.

Projects and Consultations

• Involved in various ongoing projects such as:
  • IFRS Foundation Due Process Handbook Consultation 2025
  • EFRAG Due Process Procedures for Financial Reporting 2024
  • Intangible Assets Monitoring

Cookie Policy and Privacy

• Utilizes cookies for website functionality and user experience.
• Offers options to manage cookie preferences directly on the site.

Contact and Additional Information

• EFRAG's offices located in Brussels, Belgium.
• Engages with stakeholders through various platforms, offering newsletters and updates.

For more detailed information, visit the EFRAG website: efrag.org