Report on the activities of the IFRS Foundation, EFRAG and PIOB in 2017

Summary:

Pursuant to Regulation No 258/2014 establishing a Union programme to support specific activities in the field of financial reporting and auditing, the European Commission prepares an annual report on the activities of the beneficiaries of the programme.

The objective of this Union programme is to improve the conditions for the efficient functioning of the internal market by supporting the transparent and independent development of international high-quality financial reporting and auditing standards.

Accordingly, this report covers the activities of the International Financial Reporting Standards (IFRS) Foundation, the European Financial Reporting Advisory Group (EFRAG) and the Public Interest Oversight Board (PIOB) in 2017. However, certain events that took place in 2018 are also mentioned where it was deemed useful for the purpose of this report.