European Financial Reporting Advisory Group (EFRAG)

The European Financial Reporting Advisory Group (EFRAG) is an organization that provides expert advice to the European Commission on financial reporting standards used by companies in Europe. Its role is to ensure that financial statements are transparent, consistent, and comparable across companies and countries. EFRAG assesses proposed international accounting standards, offers feedback, and helps adapt these standards to Europe's specific needs. This promotes clearer financial information, aiding investors, regulators, and other stakeholders in making informed decisions about companies.