European Union Accounting and Reporting: IAS and IFRS amendments

Two Commission Regulations amend the International Accounting Standard (IAS) 27 Consolidated and Separate Financial Statements and replace the International Financial Reporting Standard (IFRS) 3 Business Combinations, respectively:



Commission Regulation (EC) No 494/2009 of 3 June 2009 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 as regards International Accounting Standard (IAS) 27 was published in the Official Journal of the European Union (OJEU) 12.6.2009 L 149/6.



Article 1 of Regulation 494/2009 indicates the main contents:


Article 1

The Annex to Regulation (EC) No 1126/2008 is amended as follows:

1. International Accounting Standard (IAS) 27 Consolidated and Separate Financial Statements is amended as set out in the Annex to this Regulation;

2. International Financial Reporting Standard (IFRS) 1, IFRS 4, IFRS 5, IAS 1, IAS 7, IAS 14, IAS 21, IAS 28, IAS 31, IAS 32, IAS 33, IAS 39 and Interpretation 7 of the Standing Interpretations Committee (SIC) are amended in accordance with the amendments to IAS 27 as set out in the Annex to this Regulation.


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Commission Regulation (EC) No 495/2009 of 3 June 2009 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 as regards International Financial Reporting Standard (IFRS) 3 was published in the Official Journal of the European Union (OJEU) 12.6.2009 L 149/22.



The main contents of Regulation 495/2009:

Article 1

The Annex to Regulation (EC) No 1126/2008 is amended as follows:

1. International Financial Reporting Standard (IFRS) 3 Business Combinations is replaced by the revised IFRS 3 as set out in the Annex to this Regulation;

2. IFRS 1, IFRS 2, IFRS 7, International Accounting Standard (IAS) 12, IAS 16, IAS 28, IAS 32, IAS 33, IAS 34, IAS 36, IAS 37, IAS 38, IAS 39 and Interpretation 9 of the International Financial Reporting Interpretations Committee (IFRIC) are amended in accordance with the amendments to IFRS 3 as set out in the Annex to this Regulation.

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Both texts have EEA relevance.



Ralf Grahn