EFRAG

EFRAG has issued its draft comment letter on the ED where it supports the proposed amendments as they clarify the existing requirements in IAS 1 that only rights in existence as of the reporting date should be considered when determining the appropriate classification of liabilities. However, to avoid further diversity in practice, EFRAG recommends that additional guidance is provided in situations where the rights to defer settlement of a liability are subject to conditions that are assessed after the reporting period, and in situations where liabilities can settled through the issuance of shares at the option of the counterparty.

Finally, EFRAG suggests that the IASB further explores whether current guidance always provides the most relevant information when rights to defer settlement are not substantive.

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