ARC okays endorsement of 5 IFRSs, defers on IFRIC 12
Jul 20, 2008
The European Commission's Accounting Regulatory Committee (ARC) met on 11 July 2008. Here are meeting highlights: By formal votes, it agreed to recommend endorsement of the following pronouncements for use in the European Union: IAS 1 (revised 2007), IAS 23 (revised 2007), IFRS 2 (revised 2008), IFRIC 13, and IFRIC 14. EFRAG has also recommended that those pronouncements be adopted.