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.

ARC postpones advisory vote on IFRS 2

  • European Union (old) Image

03 Dec 2004

The European Commission's Accounting Regulatory Committee (ARC), which advises the Commission regarding endorsement of IFRSs for use in Europe, voted on 30 November to endorse the improved versions of IASs that were adopted by the IASB in December 2003 and later, as well as IFRSs 3, 4, and 5. But the ARC postponed to its next meeting on 20 December 2004 a vote on whether to recommend IFRS 2 Share-based Payment.

IFRS 2 requires that companies recognise as compensation expense the fair value of share options given to employees. The EU Accounting Regulation requires European listed companies to begin preparing their consolidated financial statements using IFRSs in 2005 but only after each individual IAS, IFRS, and Interpretation has been endorsed for use in Europe by the European Commission. In making its endorsement decision, the Commission considers the advice from the ARC as well as from the European Financial Reporting Advisory Group (EFRAG).

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.