European Union formally adopts amendments to IAS 1
21 Dec 2023
The European Union has published a Commission Regulation endorsing three amendments to IAS 1 issued by the IASB in 2020 and 2022.
The amendments to IAS 1 Presentation of Financial Statements are:
- Classification of Liabilities as Current or Non-current (issued on 23 January 2020);
- Classification of Liabilities as Current or Non-current - Deferral of Effective Date (issued on 15 July 2020); and
- Non-current Liabilities with Covenants (issued on 31 October 2022).
The Commission Regulation amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council was published in the Official Journal of the European Union on 20 December 2023.
