EU MINISTERS WRITE LATEST IFRS CHANGESINTO EU LAW
April 1st, 2012
BY KEITH NUTHALL
THE EUROPEAN Union (EU) Council of Ministers has written recent reforms to international financial reporting standards (IFRS) into EU accounting regulation 1126/2008. Supporting amendments drafted by the European Commission, ministers backed making recent IFRS changes on the presentation of financial statements regarding other comprehensive income and on employee benefits compulsory for companies covered by the EU regulation. The changes will now be made, unless the European Parliament objects, which is unlikely.
ENDS
THE EUROPEAN Union (EU) Council of Ministers has written recent reforms to international financial reporting standards (IFRS) into EU accounting regulation 1126/2008. Supporting amendments drafted by the European Commission, ministers backed making recent IFRS changes on the presentation of financial statements regarding other comprehensive income and on employee benefits compulsory for companies covered by the EU regulation. The changes will now be made, unless the European Parliament objects, which is unlikely.
ENDS
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