03 March 2004

EFRAG supports revised International Accounting Standards

Responding to the European Commission on its opinion on the adoption of the revised International Accounting Standards the European Financial Reporting Advisory Group (EFRAG) supports the proposed revisions. EFRAG concludes that the revised international accounting standards are not contrary to the ‘true and fair principle’ and meet the criteria of understandability, relevance, reliability and comparability required of the financial information needed for making economic decisions and assessing the stewardship of management.

EFRAG belives that it is in the European interest to adopt the revised IASs and recommend their adoption.

EFRAG letter

© EFRAG - European Financial Reporting Advisory Group