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EC Accounting Regulatory Committee endorses IAS minus 32/39

  • European Union (old) Image

17 Jul 2003

By unanimous vote, the Accounting Regulatory Committee of the European Commission endorsed all extant International Accounting Standards for use in Europe other than IAS 32 and IAS 39 (and related Interpretations SIC 5, 16, and 17).

The IASB is currently deliberating amendments to those two standards, and – as noted in our earlier news stories of 15-17 July – the EC wants to consider the revised standards for endorsement. Click for ARC Meeting Summary (PDF 21k). The ARC recommendation does not cover IFRS 1, First-Time Adoption of IFRS, which will be considered separately by the ARC at a future meeting.

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