On 26 July, the European Financial Reporting Advisory Group (EFRAG) issued summary reports on the educational sessions on IFRS 18 held on 7 June for corporates and on 11 June for financial institutions (including insurance companies and conglomerates).
In collaboration with the IASB and some of its member organisations, EFRAG conducted educational sessions on IFRS 18 Presentation and Disclosure in Financial Statements.
The first session for corporates was held on 7 June, please consult the summary report here.
The session for financial institutions (including insurance companies and conglomerates) was held on 11 June, please consult the summary report here.
The summary reports provide an overview of the feedback received during the events, including panellists’ views and experiences with the new requirements. The topics covered include:
- Categories and subtotals
- Management-defined Performance Measures (MPMs)
- Grouping – aggregation and disaggregation – of information
- Limited changes to the cash flow statement, effective date, and transition requirements
Videos of both sessions can be consulted at the following links:
- Educational session for corporates – 7 June
- Educational session for financial institutions (including insurance companies & conglomerates) – 11 June
Insurance Europe