EFRAG Update with Summaries for the April 2012 EFRAG TEG and CFSS Meetings

The European Financial Reporting Advisory Group (EFRAG) has released the April 2012 issue of its EFRAG Update newsletter.

The newsletter contains summaries from EFRAG meetings held in March and April. Some highlights include the finalisation of endorsement advices and effects study reports to the European Commission on IFRS 10, IFRS 11, IFRS 12, IAS 27 (2011) and IAS 28 (2011). Also, EFRAG has issued a draft endorsement advice for Government loans (amendments to IFRS 1) for comments and has issued its final comment letter on ESMA consultation paper Considerations of Materiality in Financial Reporting.