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The objective of the Amendments is to encourage entities to apply professional judgement in determining what information, and where and in what order it is presented and disclosed in their financial statements. Furthermore, the Amendments clarify that entities should use professional judgement in the financial disclosures.
EFRAG has concluded that the Amendments meet the qualitative characteristics of relevance, reliability, comparability and understandability required to support economic decisions and the assessment of stewardship, raise no issues regarding prudent accounting, and therefore are not contrary to the true and fair view principle.
Having considered all relevant aspects, EFRAG assesses also that adopting the Amendments is conducive to the European public good.
Having assessed that the amendments meet all criteria in the IAS Regulation, EFRAG recommends their adoption. EFRAG's reasoning is explained in the attached ‘Appendix 2 – Assessing whether the Amendments meet the technical requirements for endorsement' and ‘Appendix 3 – Assessing whether the Amendments are conductive to the European public good’.