EFRAG (European Financial Reporting Advisory Group)

EFRAG (European Financial Reporting Advisory Group) is an organization that provides expert advice to the European Commission on financial reporting standards for companies within the European Union. Its role is to ensure that accounting rules are consistent, clear, and useful for investors, regulators, and other stakeholders. EFRAG assesses new international accounting standards and recommends their adoption or suggests modifications to better suit European needs. Essentially, it helps ensure that financial statements are transparent and comparable across Europe, supporting the stability and efficiency of financial markets.