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Overview
Since 20 September 2021 self-declared 'non-commercial organisations' are no longer required to provide a lobby budget. See above timeline for this registrant's historical lobby budget.
Lobbying Costs
None declared
Financial year: Jan 2021 - Dec 2021
Lobbyists (Full time equivalent)
0.75 Fte (3)
Lobbyists with EP accreditation
3
High-level Commission meetings
5
Lobbying Costs over the years
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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.
EFRAG’s mission is to serve the European public interest by developing and promoting European views in the field of financial reporting and ensuring that these views are properly considered in the IASB’s 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 of the IAS Regulation.
EFRAG seeks input from all stakeholders, and obtains evidence about specific European circumstances, throughout the standard-setting process and in providing its endorsement advice.
EFRAG is operating in a fast-evolving environment. It is attentive to the need to adapt its activities and its governance to meet new opportunities and challenges 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. EFRAG is active in the sustainability reporting field, notably with the two mandates of the European Commission on EU non-financial reporting standard setting on which the reports with recommendations were published early March 2021. In the proposal for a CSRD EFRAG is identified as technical advisor to the European Commission providing draft European sustainability reporting Standards. In a letter dated 12 May 2021 Commissioner McGuinness invited EFRAG to start as soon as possible on the development of draft standards in project mode and on the governance reform to integrate the sustainability reporting pillar into the EFRAG structure
Address
Head Office
Square de Meeus 35
Brussels 1000
BELGIUMEU Office
Square de Meeus 35
Brussels 1000
BELGIUMWebsite
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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 29 Sep 2023
Name Start date End Date Mr Hans BUYSSE 04 Oct 2022 31 Oct 2023 Ms Chiara DEL PRETE 04 Oct 2022 30 Oct 2023 Ms Saskia Slomp 04 Oct 2022 30 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
Data not provided by Register Secretariat due to GDPR
Person with legal responsibility
Data not provided by Register Secretariat due to GDPR
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Categories
Category
Non-governmental organisations, platforms and networks and similar
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Networking
Affiliation
None declared
Member organisations
None declared
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Financial Data
Interests represented
Does not represent commercial interests
Closed financial year
Jan 2021 - Dec 2021
Lobbying costs for closed financial year
Since 20 September 2021 self-declared 'non-commercial organisations' are no longer required to provide a lobby budget. See above timeline for this registrant's historical lobby budget.
Total organisational budget in closed year
5,900,000€
Major funding types in closed year
EU funding, Member's contribution
Major contributions in closed year
Type Name Amount Grant European Commission 2,745,000€ Major contributions in current year
Type Name Amount Grant European Commission 2,400,000€ Other financial info
EFRAG is financed by an operational EC grant for 60% of its eligible expenses
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EU Structures
Groups (European Commission)
none
Groups (European Parliament)
N/A
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 and corporate reporting matters and particpate in this capacity as official observer in the ARC (Accounting Regulatory Committee) and Platform on Sustainable Finance 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 and corporate 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
- engaging in non-financial reporting activities
The EFRAG Secretariat provides support for all activities of EFRAG.
Meetings
Meetings
5 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 publish information about such meetings. All information below comes from European Commission web pages.
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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)
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Date 03 Feb 2022 Location Virtual meeting Subject Sustainability reporting standards Attending - John Berrigan (Director-General)
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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)
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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)
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Date 23 Oct 2020 Location Virtual meeting Subject Reporting standard, non-financial reporting, disclosures Attending - John Berrigan (Director-General)