European Financial Reporting Advisory Group (EFRAG) is an association that serves the public interest and provides technical advice to the European Commission. It operates through two pillars: Financial Reporting Pillar and Sustainability Reporting Pillar. The Financial Reporting Pillar comprises the development of International Financial Reporting Standards (IFRS) and advisement of IFRS endorsement. The Sustainability Reporting Pillar comprises the development of a draft of EU Sustainability Reporting Standards (ESRS) and related amendments.