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15/12/2015 - EFRAG endorsement status report

The endorsement by the European Commission of Annual Improvements to IFRS 2012-2014 Cycle is now reflected in EFRAG Endorsement Status Report.


The European Commission endorsed the Annual Improvements to International Financial Reporting Standards 2012-2014 Cycle. The objective of the annual improvements is to address non-urgent, but necessary, issues discussed by the IASB during the project cycle on areas of inconsistency in international financial reporting standards (IFRS) and international accounting standards (IAS) or where clarification of wording is required. The following standards were amended: IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, IFRS 7 Financial Instruments: Disclosures, IAS 19 Employee Benefits, IAS 34 Interim Financial Reporting and IFRS 1 First-time Adoption of International Financial Reporting Standards. Each company shall apply the amendments at the latest, as from the commencement date of its first financial year starting on or after 1 January 2016.

Link to the publication in the Official Journal of the European Union:

Commission Regulation (EU) No 2015/2343 of 15 December 2015