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European Commission concludes evaluation of the use of IFRS in EU

  • European Union Image

Jun 18, 2015

On June 18, 2015, the European Commission published a report on the evaluation of its Regulation on the application of International Financial Reporting Standards (IFRS). The evaluation aimed at establishing whether the initial objectives are still relevant and at identifying areas for improvement in the functioning of theRegulation, if needed.

The key findings of the evaluation launched in August 2014 show that IFRSs were successful in creating a common accounting language for capital markets. Preparers claimed mostly positive experiences regarding their application of IFRSs and stated that in most cases benefits outweighed costs. Investors also largely supported IFRS for improving the transparency and comparability of financial statements. 

Please click for the following information on the European Commission's website:

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