Download this datacard
Overview
Lobbying Costs
150,000€
Financial year: Jan 2018 - Dec 2018
Lobbyists (Full time equivalent)
0.75 Fte (3)
Lobbyists with EP accreditation
3
High-level Commission meetings
6
Lobbying Costs over the years
-
Info
European Financial Reporting Advisory Group (EFRAG)
EU Transparency Register
411098519407-76 First registered on 03 Nov 2015
Goals / Remit
EFRAG – European Financial Reporting Advisory Group – is a private association established in 2001 with the encouragement of the European Commission to serve the public interest. Its member organisations have an interest in the development of International Financial Reporting Standards (IFRS Standards) and how they contribute to the efficiency of capital markets. Furthermore, EFRAG aims at stimulation of innovation in the field of corporate reporting in Europe.
EFRAG’s mission is to serve the European public interest by developing and promoting European views in the field of financial reporting and ensuring these views are properly considered in the IASB standard-setting process and in related international debates. EFRAG ultimately provides advice to the European Commission on whether newly issued or revised IFRS Standards meet the criteria in the IAS Regulation for endorsement for use in the EU, including whether endorsement would be conducive to the European public good. EFRAG stimulates innovation in corporate reporting through the European Corporate Reporting Lab@EFRAG's work in sharing good practices, which also complements and contributes to our work on financial reporting.
EFRAG seeks input from all stakeholders, and obtains evidence about specific European circumstances, throughout the standard-setting process and in providing our endorsement advice. Our legitimacy is built on transparency, governance, due process (which may include field tests, impact analyses and outreaches), public accountability and thought leadership. This enables EFRAG to speak convincingly, clearly and consistently, and be recognised as the European Voice in financial reporting.
EFRAG is achieving its mission both through its participation in the IASB consultation process and its proactive work, and, under the leadership of the European Commission, its interaction with the Accounting Regulatory Committee, to hear about the potential economic or political concerns from Member States’ representatives. Upon request, EFRAG also provides the European Commission with technical expertise and advice on whether newly published IFRS meet the criteria for endorsement in the European Union, in conformity with the 1606-2002 “IAS Regulation”. EFRAG provides reports on good practices and innovations in corporate reporting.Main EU files targeted
EFRAG provides European input into the development of IFRS Standards issued by the IASB and provides the European Commission with technical expertise and advice on accounting matters and corporate reporting. This advice includes the endorsement advice in conformity with the 1606-2002 “IAS Regulation”. EFRAG has established within EFRAG at the request of the EC a European Corporate Reporting Lab (European Lab) with as aim to stimulate innovations in the field of corporate reporting in Europe by identifying and sharing good practices.
Address
Head Office
Square de Meeus 35
Brussels 1000
BELGIUM -
People
Total lobbyists declared
3
Employment time Lobbyists 25% 3 Lobbyists (Full time equivalent)
0.75
Lobbyists with EP accreditation
All Lobbyists with EP accreditation over time
3 accreditations were / are live (in bold) for the selected state of 03 May 2019
Name Start date End Date Mr Hans BUYSSE 04 Oct 2022 01 Nov 2023 Ms Chiara DEL PRETE 04 Oct 2022 31 Oct 2023 Ms Saskia Slomp 04 Oct 2022 31 Oct 2023 Ms Cecile ETEVENOT 28 Apr 2020 28 Apr 2021 Ms Saskia Slomp 29 Feb 2020 27 Feb 2021 Ms Chiara DEL PRETE 07 May 2019 07 May 2020 Ms Cecile ETEVENOT 07 May 2019 28 Apr 2020 Ms Saskia Slomp 05 Feb 2019 29 Feb 2020 Ms Patricia McBride 05 Feb 2019 01 Mar 2020 Mr Andrew George Ronald Watchman 17 May 2018 17 May 2019 Ms Saskia Slomp 15 Jan 2018 12 Jan 2019 Ms Patricia McBride 15 Jan 2018 12 Jan 2019 Mr Andrew George Ronald Watchman 12 May 2017 09 May 2018 Ms Saskia Slomp 23 Jan 2017 12 Jan 2018 Ms Patricia McBride 23 Jan 2017 12 Jan 2018 Mr Andrew George Ronald Watchman 14 Apr 2016 13 Apr 2017 Ms Saskia Slomp 05 Jan 2016 30 Dec 2016 Ms Patricia McBride 05 Jan 2016 30 Dec 2016 Ms Françoise Uriot Berrendonner 05 Jan 2016 30 Mar 2016 Mr Roger Michael James Marshall 05 Jan 2016 30 Dec 2016 Complementary Information
The EFRAG Secretariat provides support for all activities of EFRAG as described above.
Person in charge of EU relations
Saskia Slomp (CEO)
Person with legal responsibility
Mr Saskia Slomp (CEO)
-
Categories
Category
III - Non-governmental organisations
Subcategory
Non-governmental organisations, platforms and networks and similar
-
Networking
Affiliation
8 European stakeholder organisations: http://www.efrag.org/About/Governance
Member organisations
None declared
-
Financial Data
Closed financial year
Jan 2018 - Dec 2018
Lobbying costs for closed financial year
150,000€
EU grant income for closed financial year
2,817,000 € (Source: European Commission)
Other financial info
The amounts provided under b) are the total financial funding for EFRAG in 2018 as can be arrived from our 2018 annual review page 30 and 31 and cover all EFRAG activities as organisation working in the European public interest. The EFRAG financial structure combines private and public funding. In addition to cash funding EFRAG receives contributions in kind provided by members of EFRAG TEG (with the exception of the chairwoman), the EFRAG Board (with the exception of the EFRAG Board President appointed per 1 July 2016), the European Lab Steering Group and its project task forces and the Working Groups and Advisory Panels contributing to EFRAG TEG.
-
EU Structures
Groups (European Commission)
none
Groups (European Parliament)
None
Communication activities
All EFRAG activities are described in detail on the EFRAG website, including its due process activities of providing input to IASB and IFRS Foundation and other relevant financial reporting pronouncements and proactive projects to engage European stakeholders in the analysis of and debate on emerging financial reporting issues. The EFRAG website contains a page on the European Corporate Reporting Lab.
A summary of the main activities can be found in our annual review and in the individual project pages on our website.Other activities
Public accountability is ensured on the one hand by EFRAG’s governance and on the other by EFRAG’s due process. It is of crucial importance to the success and credibility of EFRAG. EFRAG is accountable to the public at large and the European institutions through its open and transparent due process; including public consultation on its publications; transparency of EFRAG’s work; public meetings of the EFRAG Technical Expert Group, EFRAG Consultative Forum of Standard Setters (EFRAG CFSS), EFRAG Board and EFRAG TEG, EFRAG CFSS and EFRAG Board public agenda papers and open nomination processes. EFRAG publishes every year an extensive Annual Review discussing its activities and presenting financials of the past year. The funding by the European Commission brings enhanced scrutiny of EFRAG’s activities and expenses, including the publication of audited annual accounts and detailed activity reports to the European Commission.
EFRAG provides the European Commission with technical expertise and advise on accounting matters and particpate in this capacity as official observer in the ARC (Accounting Regulatory Committee) meetings.
All EFRAG's activities are aimed at meeting EFRAG's objectives:
- ensuring full participation of European stakeholders in the debate supporting the development of IFRS Standards and expressing the European view throughout the IASB standard setting process
- engaging European stakeholders in the analysis of and debate on emerging financial reporting issues by stimulating, coordinating and carrying out proactive accounting activities
- advising the European Commisssion on the acceptabilty of IFRS Standards for endorsement for use in Europe in the consolidated accounts of all listed companies.
- publishing reports of the European Corporate Reporting Lab in the field of corporate reporting
The EFRAG Secretariat provides support for all activities of EFRAG.
Meetings
Meetings
6 meetings found. Download meetings
The list below only covers meetings held since November 2014 with commissioners, their cabinet members or directors-general at the European Commission; other lobby meetings with lower-level staff may have taken place, but the European Commission doesn't proactively publish information about these meetings. For more information about which commissioner is responsible for which portfolio, check out this link: https://commissioners.ec.europa.eu/index_en All information below comes from European Commission web pages.
-
Date 20 Sep 2023 Location Brussels Subject CSRD DG Financial Stability, Financial Services and Capital Markets Union Attending - John Berrigan (Director-General)
-
Date 30 Nov 2022 Location Brussels, Belgium Subject ESRS, reporting standards Cabinet Cabinet of Commissioner Mairead Mcguinness Portfolio Financial services, financial stability and Capital Markets Union Attending - Katherine Power (Cabinet member)
- Mairead McGuinness (Commissioner)
-
Date 03 Feb 2022 Location Virtual meeting Subject Sustainability reporting standards DG Financial Stability, Financial Services and Capital Markets Union Attending - John Berrigan (Director-General)
-
Date 28 Jun 2021 Location Virtual Subject Sustainability & Financial Public Reporting Cabinet Cabinet of Commissioner Mairead Mcguinness Portfolio Financial services, financial stability and Capital Markets Union Attending - Claude Bocqueraz (Cabinet member)
-
Date 11 Feb 2021 Location Video Conferencing Subject Non-financial reporting directive. Cabinet Cabinet of Commissioner Mairead Mcguinness Portfolio Financial services, financial stability and Capital Markets Union Attending - Mairead McGuinness (Commissioner)
-
Date 23 Oct 2020 Location Virtual meeting Subject Reporting standard, non-financial reporting, disclosures DG Financial Stability, Financial Services and Capital Markets Union Attending - John Berrigan (Director-General)