IASB Exposure Draft of Proposed Amendments to IAS 24 Related Party Disclosures: State-Controlled Entities and the Definition of a Related Party

FEE is pleased to submit its comments on the IASB Exposure Draft of Proposed Amendments to IAS 24 Related Party Disclosures: State-Controlled Entities and the Definition of a Related Party. FEE as a founding organisation of EFRAG has also contributed to the EFRAG consultation process by submitting our views on EFRAG’s draft comment letter. We refer to the EFRAG preliminary comments (draft letter of 24 April). We share EFRAG’s views that the disclosure requirements that the ED is proposing to amend are currently proving burdensome and resulting in disclosures that appear to be of little value, and the definition of related party is in need of improvement and simplification. However, we have not considered the final EFRAG submission to IASB in our own response since it is not yet finalised.

Related files:
Comment Letter to Sir David Tweedie