The Working Group primarily focuses on the impact of the International Financial Reporting Standards (IFRS), issued by the IASB, on the accountancy of non financial corporations and their effects on the European central balance sheet data offices´ databases and questionnaires, trying to assess both potential opportunities and risks. To that end, the group has developed IFRS-compliant standard formats (using for that purpose the IFRS Taxonomy defined by the  IASB-XBRL Team) and created the ERICA (European Records of IFRS Consolidated Accounts) database.