The European Financial Reporting Advisory Group (EFRAG) is asking companies to commit to field testing certain International Accounting Standards Board (IASB) proposals over the next few months to steer the project’s future.
EFRAG requested companies test out IASB proposals included in the ED Disclosure Requirements in IFRS Standards—A Pilot Approach ED/2021/3, issued in March, to identify potential concerns in applying the proposed disclosures in IFRS 13 Fair Value Measurement and IAS 19 Employee Benefits.
Such feedback would help the group determine if it needs to issue additional guidance, EFRAG said in a statement.
Once EFRAG receives the testing results, it plans to summarize and deliver them to the IASB.
Participants are asked to submit their findings by the end of August.
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