EFRAG's endorsement advice letter to the EC on the Amendments to IAS 1 Presentation of Items of Other Comprehensive Income

21 October 2011

EFRAG completed its due process regarding the Amendments to IAS 1 Presentation of Items of Other Comprehensive Income and has submitted its Endorsement Advice Letter and Effects Study Report to the European Commission.

Amendments to IAS 1 'Presentation of Items of Other Comprehensive Income' (the Amendments) require separate presentation of items of other comprehensive income that are reclassified subsequently to profit or loss (recyclable) and those that are not reclassified to profit or loss (non-recyclable). If items of other comprehensive income are presented before tax, then income tax is allocated to each respective group.

EFRAG has issued its Endorsement Advice Letter and Effects Study Report relating to the endorsement of the Amendments for use in the European Union and European Economic Area. EFRAG supports the Amendments and has concluded that they meet the requirements of endorsement. EFRAG has also concluded that the benefits of the Amendments outweigh the costs.

Full paper

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