ARC unanimously recommends IFRS 2 in Europe
22 Dec 2004
At its meeting in Brussels on 20 December 2004, the European Commission's Accounting Regulatory Committee (ARC) voted unanimously to recommend the adoption of IFRS 2 Share-based Payment for use in Europe.
One of ARC's 25 member countries (Hungary) abstained because of a language translation issue. IFRS 2 requires recognition of an expense based on the fair value of all share-based payments made by an entity, including employee stock options. To date, ARC has endorsed all of the 2003-2004 improved versions of IASs 1-41 (with two sections carved out of IAS 39) and IFRSs 1-5.