EFRAG requests comments on its draft endorsement advice on Definition of Accounting Estimates (Amendments to IAS 8)

In order to help entities distinguish accounting policies from accounting estimates, in February 2021, the IASB issued amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors (the Amendments).

EFRAG has issued draft endorsement advice letter on the Amendments and has invited comments on its assessment against the technical criteria in the European Union and on its assessment of whether the Amendments are conducive to the European public good. EFRAG's overall preliminary assessment is that the Amendments satisfy the criteria for endorsement for use in the EU and therefore recommends its endorsement.

EFRAG’s draft endorsement advice may be accessed here. The invitation to comment and the link for comment submission may be accessed here. Comments are requested by 7 June 2021.