ARC supports endorsing five IFRSs

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17 Jul 2009

At the meeting of the European Commission's Accounting Regulatory Committee (ARC) yesterday, all EU Member States voted in favour of Commission Regulations endorsing the following standards for use in Europe:

  • IFRIC 9/IAS 39 Embedded Derivatives
  • IFRS 1 First-time Adoption of IFRS (revised)
  • IFRS 7 Financial Instruments: Disclosures (amended)
  • IFRIC 17 Distributions of Non-cash assets to owners
  • IFRIC 18 Transfers of Assets from Customers
The next step for endorsement is for the Commission to adopt the necessary regulations.

 

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