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Beyond the GAAP 2023 - no. 175
Beyond the GAAP no. 175 - 2023
The EC followed up this announcement by asking its technical adviser, the European Financial Reporting Advisory Group (EFRAG), to focus on implementation of ESRS Set 1, i.e. the 12 sector-agnostic standards which were published in draft form last November, with the final version scheduled for June 2023. In this context, EFRAG has confirmed that it is ready to revise its timetable for development of subsequent Sets (sector-specific standards and standards applicable by SMEs) and to rapidly put in place a support framework for implementation of the first set of ESRS.