ASCG Comment Letters to the IASB Agenda Consultation

Today, the ASCG has submitted its comment letter to the IASB on its Agenda Consultation. Therein, we basically agree with the strategic direction of the IASB and its criteria for assessing the priority of projects. However, we acknowledge that there is few room left for new issues – due to capacity restrictions for the standardsetter as well as for stakeholders. We have identified only few issues/projects with high priority that deserve to be added to the future work plan – for which current projects are already set. Finally, we think it is worth to consider abandoning some of the unaccomplished current projects, with no final result on the horizon.

Further, we have submitted a comment letter to the EFRAG, thereby forwarding our comments mentioned above as well as responding to the consultation on EFRAG’s Research Agenda that has been conducted simultaneously. We state that EFRAG’s preliminary views partly deviate from our findings. Also, we are skeptical towards the EFRAG’s idea of starting own projects, in case the IASB will not add these to its work plan.