Statement: European Parliament backs Commission proposal for the EU co-financing of the International Financial Reporting Standards (IFRS) Foundation, the European Financial Reporting Advisory Group (EFRAG), and the Public Interest Oversight Board (PIOB)

On 13 March 2014, the European Parliament backed the European Commission’s proposal on co-financing the IFRS Foundation, EFRAG and the PIOB, three organisations that play a key role in the development of accounting and auditing standards.

The regulation will form the legal basis for the continuation of financing the International Financial Reporting Standards (IFRS) Foundation1 and the Public Interest Oversight Board (PIOB) for the period 2014-2020 and the European Financial Reporting Advisory Group (EFRAG) for the period 2014-2016.

ESO: Background information: Commissioner Barnier welcomes the trilogue agreement on the EU co-financing of the International Financial Reporting Standards (IFRS) Foundation, the European Financial Reporting Advisory Group (EFRAG), and the Public Interest Oversight Board (PIOB) http://www.europeansources.info/record/memo-commissioner-barnier-welcomes-the-trilogue-agreement-on-the-eu-co-financing-of-the-international-financial-reporting-standards-ifrs-foundation-the-european-financial-reporting-advisory-group/

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