EFRAG issued a letter to the Commission to report on the findings of the first phase (the assessment phase) of its investigation into the significance of investments in equity instruments and the possible effects on long-term investments of the new requirements in IFRS 9 Financial Instruments.
On 29 May 2017, the EC requested EFRAG to investigate the potential effects of the requirements of IFRS 9 Financial Instruments on accounting for investments in equity instruments on long-term investment. In the first phase of the project (‘the assessment phase’), EFRAG was asked to collect quantitative data on the current holdings of equity instruments and their accounting treatment and investigate whether, and to what extent, entities expect that the new accounting requirements will affect their decisions in relation to investment in equity instruments.
The objective of this report is to present EFRAG’s findings in relation to the assessment phase of the European Commission’s request. The findings are mostly based on a public consultation with European constituents and a review of a sample of annual financial statements.
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© EFRAG - European Financial Reporting Advisory Group
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