EU published Annual Improvements to IFRSs, Cycle 2012-2014

The European Union has published the Commission Regulation (EC) No 2015/2343 of 15 December 2015 amending Regulation (EC) No 1226/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council in the Official Journal on 16 December 2015.

With this Regulation amendments in connection with the Annual Improvements to International Financial Reporting Standards (Cycle 2012-2014) adopted.

The following standards are concerned:

• IFRS 5 Non-current Assets Held for Sale and Discontinued Operations
• IFRS 7 Financial Instruments: Disclosures
• IFRS 1 First-time Adoption of IFRSs
• IAS 19 Employee Benefits
• IAS 34 Interim Financial Reporting