EFRAG

EFRAG was established in 2001 and its mission is to serve the European public interest by developing and promoting European views in the field of financial reporting and ensuring these views are properly considered in the IASB standard-setting process and in related international debates. EFRAG ultimately provides advice to the European Commission on whether newly issued or revised IFRS meet the criteria in the IAS Regulation for endorsement for use in the EU, including whether endorsement would be conducive to the European public good. In 2018, as foreseen in the European Commission action plan on financing sustainable growth, EFRAG launched the European Corporate Reporting Lab. The European Lab @ EFRAG stimulates innovation in the field of corporate reporting in Europe by identifying and sharing good practices.