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EFRAG believes the IASB should not proceed with the amendments at the pace and with the implementation timetable that is proposed. “We do not believe the proposed disclosures are as urgently needed as that timetable implies”, EFRAG states, “and in any case we believe the issues involved are complex and that more time is required to properly evaluate the issues”.
Should the IASB decide to proceed with these amendments EFRAG recommends not to make them mandatory for implementation in 2008 financial statements.
However, because of the complexity “we have not so far fully evaluated the new disclosures proposed and are therefore not in a position to comment on whether we would support them were the implementation timetable eased”, EFRAG notes.
Deadline for comments is