On 17 May, the European Commission hosted a roundtable on the consistent application of IFRS. The event was attended by representatives of national standard-setters (including the ASB), regulators, preparers, the IASB and EFRAG. The roundtable is designed to be an informal and temporary mechanism to share and discuss potential issues that might give rise to problems of consistent application and which might be submitted to the International Financial Reporting Interpretations Committee (IFRIC).

The general view of the meeting was that IFRIC should be the appropriate body to interpret IFRS and agreement that the purpose of the roundtable was not to develop an EU interpretations body, but rather to discuss and decide whether there were any key few issues that clearly met the IFRIC criteria that could and should be submitted to the IFRIC and/or IASB for consideration as a matter of priority. The roundtable would act as a filter. A number of issues were discussed or raised at the meeting, and these will be considered at a further meeting of the roundtable to be held in September.

On 14 July, the European Commission published a Decision on the setting up of a high-level Standards Advice Review Group to advise it on the objectivity and neutrality of EFRAG's opinions on the endorsement of IFRS for application in the EU. The Commission's rationale for setting up the Group is that, as EFRAG is a private body, it is important for the high quality, transparency and credibility of the endorsement process to establish a mechanism to ensure that its advice is objective and wellbalanced.