EFRAG is a not-for-profit (AISBL), public interest organisation and the leading European force in the global financial reporting debate. EFRAG was established in 2001 by European stakeholder organisations with an interest in financial reporting, representing the business community, investors and the accountancy profession. EFRAG's activities are aimed at ensuring that European views on the development of International Financial Reporting Standards (IFRS) are properly and clearly articulated in the international standard-setting process, so that ultimately IFRS are fit for Europe.
In September 2018 EFRAG has established the European Corporate Reporting Lab at EFRAG (European Lab). The objective of the European Lab is to stimulate innovations in the field of corporate reporting in Europe by identifying and sharing good practices.