EFRAG reminds that every jurisdiction has its own way of organising state-related activities and organisations. A definition needs to be found that achieves broadly the same result regardless how such activities and organisations are structured.
EFRAG does agree fully with the amendments that extends the definition beyond that proposed in the previous ED. Although we recognise that the IASB is not inviting comment on the definition of a ‘State‘, EFRAG set out examples of problems that may arise and calls for further clearance on the definition and supporting material.
EFRAG calls to bear in mind that every jurisdiction has its own way of organising state-related activities and organisations, and that a definition needs to be found that achieves broadly the same result regardless of precisely how such activities and organisations are structured.
Comment letter
© EFRAG - European Financial Reporting Advisory Group
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