EFRAG submits its Endorsement Advice on amendment to IAS 8 to European Commission
16 July 2021
EFRAG has submitted its Endorsement Advice on Definition of Accounting Estimates (Amendments to IAS 8) to the European Commission.
In February 2021, the IASB issued Definition of Accounting Estimates (Amendments to IAS 8) (the Amendments). The Amendments provide a definition of accounting estimates and other clarifications to help entities distinguish accounting policies from accounting estimates.
EFRAG has assessed that the Amendments meet the technical endorsement criteria of the IAS Regulation and are conducive to the European public good and has recommended its endorsement.
The Endorsement Advice Letter may be accessed here.