This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

EFRAG notes possible EU endorsement of IBOR amendments "by mid-January"

  • European Union Image

08 Jan 2020

The European Financial Reporting Advisory Group (EFRAG) has published an updated endorsement status report to provide additional guidance on when endorsement of the two amendments to IFRSs that became effective on 1 January 2020 but have not been endorsed for use in the European Union yet might be expected.

The amendments are Definition of a Business (Amendments to IFRS 3) and Interest Rate Benchmark Reform (Amendments to IFRS 9, IAS 39 and IFRS 7).

On the IFRS 3 amendments EFRAG notes: "The required scrutiny period by the European Parliament will only conclude mid-March 2020. The finalisation of the process will then proceed as usual."

On the IBOR amendments, the report states: "Almost all formalities for endorsement have been completed. Without pre-empting the final adoption procedures, the amendments could be adopted by mid-January followed by publication in the Official Journal."

Please click to access the updated status report.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.