EU citizens as end-investors become observers at the board of the European Financial Reporting Advisory Group

EFRAG, the European Financial Reporting Advisory Group, was established in 2001 with the aim of advising the European Commission (EC) on the suitability of the International Financial Reporting Standards (IFRS) as set by the International Accounting Standards Board (IASB). EFRAG's mission is to ensure that European views on the matter are taken into account in the IASB standard setting process and whether newly issued or revised IFRS meet the criteria for endorsement for use in the EU.

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