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The International Accounting Standards (IASs)


News

17.05.2006 First meeting of the Roundtable for the consistent application of IFRS in EU
15.11.2005 Accounting standards: Commission endorses “IAS 39 Fair Value Option”
08.07.2005 EU Accounting Regulatory Committee supports Commission proposal to endorse “IAS 39 Fair Value Option”
12.05.2005 The ARC voted in favour of the adoption of IFRIC 2 on 25.02.2005
06.05.2005 Adoption of IFRIC 3 Emission Rights
22.04.2005 Agreement with the Securities & Exchange Commission (SEC)
10.03.2005 Commission's response to changes proposed to the Constitution of the International Accounting Standards Committee Foundation (IASCF)
  • Letter from Alexander Schaub, Director-general, DG Internal Market and Services, European Commission PDF - 95 KBEnglish
  • Annex PDF - 31 KBEnglish
  • IASB website dedicated to the Constitution Review
16.02.2005 Endorsement advice by EFRAG
11.02.2005 IASs/IFRSs, SICs and IFRICs adopted by the Commission
07.02.2005 Commission endorses international standard on accounting for share-based payments (IFRS 2)
20.12.2004 Europe will move to accounting rules for stock options for about 8000 listed European companies English
19.11.2004 Commission endorses IAS 39
05.10.2004 EU Accounting Regulatory Committee Opinion on IAS 39
28.09.2004 IAS 39 State of play - Revised Proposal for a Draft Commission Regulation
07.09.2004 IAS 39 State of play - Proposal for a Draft Commission Regulation
30.04.2004 Table providing information on the intentions/decisions of new Member States concerning the use of options in the IAS Regulation
04.2004 IFRS 1 adopted by the Commission
11.2003 Comments on the IAS Regulation and the Accounting Directives
Publication of the IASB Framework
29.09.2003 Commission adopts Regulation endorsing International Accounting Standards
24.07.2003 International Accounting Standards endorsed by the ARC

The IAS Regulation

The Regulation

The IAS Regulation (EC)1606/2002 concerning the application of international accounting standards was adopted on 19 July 2002 by the European Parliament and the Council. The text of the Regulation can be downloaded here.

Planned use of options in the IAS Regulation

Table providing information on the intentions/decisions of Member States and EEA Countries concerning the use of options in the IAS Regulation 05.2006 PDF - 27 KBEnglish

Status of the adoption process of standards in the EU

International Accounting Standards adopted in the European Union by the European Commission 01.01.2005 PDF - 11 KBEnglish

IASs/IFRSs, SICs and IFRICs adopted by the Commission

Commission Regulations adopting IASB standards and interpretations and published in the Official Journal of the European Union.

IFRIC 8 and IFRIC 9
Commission Regulation (EC) No 1329/2006 of 8 September 2006 amending Regulation (EC) No 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards the International Financial Reporting Interpretations Committee's (IFRIC's) Interpretations 8 and 9
Amendment to IAS 21 and IFRIC 7
Commission Regulation (EC) No 708/2006 of 8 May 2006 amending Regulation (EC) No 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Accounting Standard (IAS) 21 and International Financial Reporting Interpretations Committee’s (IFRIC) Interpretation 7
IFRS 7, Amendment to IAS 1, Amendment to IFRS 4 and IAS 39, Amendment to IFRS 1, and IFRIC 6
Commission Regulation (EC) No 108/2006 of 27.01.2006 amending Regulation (EC) No 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council, as regards IFRS 1, 4, 6 and 7, IAS 1, 14, 17, 32, 33, and 39, IFRIC Interpretation 6
Amendment to IAS 39 Cash flow hedge accounting of forecast intragroup transactions
Commission Regulation (EC) No 2106/2005 of 21 December 2005 amending Regulation (EC) No 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council, as regards International Accounting Standard (IAS) 39
IFRS 6, Amendment to IAS 19, IFRIC 4 and IFRIC 5
Commission Regulation (EC) No 1910/2005 of 8.11.2005 amending Regulation (EC) No 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council, as regards International Financial Reporting Standard 1 and 6, IASs 1, 16, 19, 24, 38, and 39, International Financial Reporting Interpretations Committee’s Interpretations 4 and 5
Amendment to IAS 39 Fair value option
Commission Regulation (EC) No 1864/2005 of 15.11.2005 accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council,
as regards International Financial Reporting Standard No 1 and International Accounting Standards
Nos. 32 and 39
Amendment to IAS 39 and SIC 12
Commission Regulation (EC) No 1751/2005 of 25.10.2005 amending Regulation (EC) No 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council, as regards IFRS 1, IAS 39 and SIC 12
IFRIC 2
Commission Regulation of 8.7.2005 amending Regulation (EC) 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) 1606/2002 of the European Parliament and of the Council
IFRS 2
Commission Regulation (EC) 211/2005 of 04.02.2005 amending Regulation (EC) 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) 1606/2002 of the European Parliament and of the Council
IASs 1, 2, 8, 10, 16, 17, 21, 24, 27, 28, 31, 33 and 40
Commission Regulation (EC) 2238/2004 of 29.12.2004 amending Regulation (EC) 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) 1606/2002 of the European Parliament and of the Council
IAS 32 and IFRIC 1
Commission Regulation (EC) 2237/2004 of 29.12.2004 amending Regulation (EC) 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) 1606/2002 of the European Parliament and of the Council
IFRSs 3, 4 and 5, IASs 36 and 38
Commission Regulation (EC) 2236/2004 of 29.12.2004 amending Regulation (EC) 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) 1606/2002 of the European Parliament and of the Council
IAS 39
Commission Regulation (EC) 2086/2004 of 19.11.2004 amending Regulation (EC) 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) 1606/2002 of the European Parliament and of the Council
IFRS 1
Commission Regulation (EC) 707/2004 of 06.04.2004 amending Regulation (EC) 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) 1606/2002 of the European Parliament and of the Council
IAS 1, 2, 7, 8, 10, 11, 12, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 26, 27, 28, 29, 30, 31, 33, 34, 35, 36, 37, 38, 40 and 41
SIC 1, 2, 3, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 18, 19, 20, 21, 22, 23, 24, 25, 27, 28, 29, 30, 31, 32 and 33
Commission Regulation (EC) 1725/2003

Annexes

of 29.09.2003 Commission Regulation (EC) 1725/2003 of 29.9.2003 adopting certain international accounting standards in accordance with Regulation (EC) 1606/2002 of the European Parliament and of the Council
(Text with EEA relevance)

Endorsements decisions by the ARC

According to Article 6 of the IAS Regulation, the Commission shall be assisted by an Accounting Regulatory Committee (ARC) composed of representatives of the Member States (the political level of the endorsement process). The Commission shall submit draft implementing measures concerning international accounting standards to the ARC for its opinion.

Opinions given by the ARC
24.04.2006 The ARC voted in favour of the adoption of IFRIC 8 and IFRIC 9 PDF - 53 KBEnglish
17.02.2006 The ARC voted in favour of the adoption of the IFRIC 7 and the amendments to IAS 21 PDF - 53 KBEnglish
30.11.2005 The ARC voted in favour of the amendments to IFRS 1 and 6, amendment to IAS 1, amendments to IAS 39 and IFRS 4 on financial guarantee contracts and IFRIC 6 PDF - 53 KBEnglish
08.11.2005 The ARC voted in favour of the adoption of an amendment to IAS 39 PDF - 53 KBEnglish
08.07.2005 The ARC voted in favour of an amendment to IAS 39 and with the consequential amendments to previously endorsed IFRS 1 and IAS 32 PDF - 53 KBEnglish
20.05.2005 The ARC voted in favour of an amendment to IAS 39 and an amendment to SIC-12 and the consequential amendments to previously endorsed IFRS 1 as well as endorsement of IFRS 6, IFRIC 4 and 5 and the amendments to IAS 19 and the consequential amendments to other previously endorsed IASs 1, 16, 24, 38 and 39 and IFRS 1
 
PDF - 53 KBEnglish
25.02.2005 The ARC voted in favour of the adoption of IFRIC 2 PDF - 53 KBEnglish
20.12.2004 Europe will move to accounting rules for stock options for about 8000 listed European companies English
30.11.2004 The ARC voted in favour of the adoption of the Improvements Project (IASs 1, 2, 8, 10, 16, 17, 21, 24, 27, 28, 31, 33 and 40), IFRSs 3-5, IASs 32, 36 and 38 and IFRIC 1 PDF - 32 KBEnglish
05.10.2004 EU Accounting Regulatory Committee Opinion on IAS 39 PDF - 12 KBEnglish
28.09.2004 IAS 39 - State of Play  
 

Revised Proposal for a Draft Commission Regulation

PDF - 25 KBEnglish
 

ARC Annotated version (Revised)

PDF - 127 KBEnglish
 

Explanatory Memorandum

PDF - 127 KBEnglish
07.09.2004 IAS 39 - State of Play  
 

Proposal for a Draft Commission Regulation

PDF - 25 KBEnglish
 

ARC Annotated version

PDF - 127 KBEnglish
03.02.2004 The ARC voted in favour of the adoption of IFRS 1 PDF - 33 KBEnglish
16.07.2003 The ARC voted in favour of the adoption of all IASs except for IASs 32 and 39 PDF - 13 KBEnglish

Read more on the Accounting Regulatory Committee (ARC)

Endorsement advice by EFRAG

The IAS Regulation foresees an accounting technical committee which shall provide support and expertise to the Commission in the assessment of international accounting standards. The committee is called the European Financial Reporting Advisory Group (EFRAG). This section lists the opinions given by EFRAG.

06.05.2005 Adoption of IFRIC 3 Emission Rights PDF - 20 KBEnglish
15.02.2005 Adoption of IFRIC 4
Determining whether an Arrangement contains a Lease
PDF - 20 KBEnglish
15.02.2005 Adoption of IFRIC 5
Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds
PDF - 20 KBEnglish
11.02.2005 Adoption of Amendments to IAS 39
Financial Instruments: Recognition and Measurement “Transition and Initial Recognition of Financial Assets and Financial Liabilities
PDF - 17 KBEnglish
10.02.2005 Adoption of Amendments to IAS 19
Employee Benefits: Actuarial Gains and Losses, Group Plans and Disclosures
PDF - 17 KBEnglish
10.02.2005 Adoption of IFRS 6
Exploration for and Evaluation of Mineral Resources
PDF - 17 KBEnglish
17.01.2005 Adoption of IFRIC 2
(Members’ Shares in Co-operative Entities and Similar Instruments)
PDF - 17 KBEnglish
04.01.2005 Adoption of IFRIC
(amendment to SIC-12 Consolidation-Special Purpose Entities)
PDF - 18 KBEnglish
19.07.2004 Adoption of IFRIC 1
(Changes in Existing Decommissioning, Restoration and Similar Liabilities)
PDF - 44 KBEnglish
08.07.2004 Adoption of amended IAS 39
(Financial Instruments: Disclosure and Presentation)
PDF - 44 KBEnglish
  Adoption of amended IAS 32
(Financial Instruments: Recognition and Measurement)
PDF - 44 KBEnglish
04.06.2004 Adoption of amended IAS 36 (Impairment of Assets)
and IAS 38 (Intangible Assets)
PDF - 44 KBEnglish
04.06.2004 Adoption of IFRS 3
(Business Combinations)
PDF - 48 KBEnglish
04.06.2004 Adoption of IFRS 4
(Insurance Contracts)
PDF - 43 KBEnglish
04.06.2004 Adoption of IFRS 5
(Non-current Assets Held for Sale and Discontinued Operations)
PDF - 46 KBEnglish
26.04.2004 Adoption of IFRS 2
(Share-based payment)
PDF - 29 KBEnglish
03.03.2004 Adoption of the revised International Accounting Standards PDF - 70 KBEnglish
25.07.2003 Adoption of IFRS 1
First-time Adoption of International Financial Reporting Standards
PDF - 20 KBEnglish
19.06.2002 Endorsement of existing International Accounting Standards and related interpretations PDF - 34 KBEnglish

IASs/IFRSs, SICs and IFRICs adopted by the IASB

The standards and interpretations which have been adopted by the IASB.

Read more on the IASB website.

Background documents on the legislative process

This section contains documents that are helpful in understanding the process of introducing international accounting standards in the European Union.

Read more...

Enforcement of IASs

The Committee of European Securities Regulators (CESR) was established in June 2001 by a Commission Decision. The role of CESR is to improve coordination among European Securities Regulators and to act as an advisory group to assist the European Commission, in particular in its preparation of draft implementing measures in the field of securities.

Roundtable for the consistent application of the IFRSin EU

  • Objectives and functions of the Roundtable PDF - 34 KBEnglish
  • Working Arrangements PDF - 34 KBEnglish

Meeting 20 September 2006

  • Agenda PDF - 34 KBEnglish
  • Summary Meeting Report PDF - 34 KBEnglish
  • Issues paper PDF - 34 KBEnglish
  • Technical Paper on de facto control PDF - 34 KBEnglish

Meeting 17 May 2006

  • Agenda PDF - 34 KBEnglish
  • Summary Meeting Report PDF - 34 KBEnglish

Standards Advice Review Group

  • Call for applications for members of the Standards Advice Review Group PDF - 34 KB
  • The Commission Decision establishing the Standards Advice Review Group

Comments on the IAS Regulation and the Accounting Directives
Publication of the IASB Framework

The Commission comments on topics where authoritative clarification appears to be required. These comments reflect the outcome of the discussions held in both the Accounting Regulatory Committee (ARC) and the Contact Committee. The IASB Framework is published in the annex of this paper.

11.2003 - PDF - 172 - 540 KBCastellanoDanskDeutschEllinikaEnglishFrançaisItalianoNederlandsPortuguêsSuomiSvenska

Last update: 19-10-2006

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