EN Official Journal of the European Union L 330/20

COMMISSION REGULATION (EU) 2015/2343

of 15 December 2015

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 Standards 5 and 7 and International Accounting Standards 19 and 34

(Text with EEA relevance)

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards (1), and in particular Article 3(1) thereof,

Whereas:

(1) By Commission Regulation (EC) No 1126/2008 (2) certain international standards and interpretations that were in existence at 15 October 2008 were adopted.

(2) On 25 September 2014, the International Accounting Standards Board (IASB) published Annual Improvements to International Financial Reporting Standards 2012-2014 Cycle (‘the annual improvements’), in the framework of its regular improvement process which aims at streamlining and clarifying the standards. 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.

(3) Amendments to IFRS 7 imply by way of consequence amendments to IFRS 1 in order to ensure consistency between international financial reporting standards.

(4) The consultation with the European Financial Reporting Advisory Group confirms that the amendments to IFRS 5 and 7, and IAS 19 and 34 meet the technical criteria for adoption set out in Article 3(2) of Regulation (EC) No 1606/2002.

(5) Regulation (EC) No 1126/2008 should therefore be amended accordingly.

(6) The measures provided for in this Regulation are in accordance with the opinion of the Accounting Regulatory Committee,

HAS ADOPTED THIS REGULATION:

Article 1

The Annex to Regulation (EC) No 1126/2008 is amended as follows: the following international financial reporting standards and international accounting standards are amended as set out in the Annex to this Regulation:

(a) IFRS 5 Non-current Assets Held for Sale and Discontinued Operations is amended as set out in the Annex to this Regulation;

(b) IFRS 7 Financial Instruments: Disclosures is amended as set out in the Annex to this Regulation;

(c) IAS 19 Employee Benefits is amended as set out in the Annex to this Regulation;

(d) IAS 34 Interim Financial Reporting is amended as set out in the Annex to this Regulation;

(e) IFRS 1 First-time Adoption of International Financial Reporting Standards is amended in accordance with the amendments to IFRS 7 as set out in the Annex to this Regulation.

Article 2

Each company shall apply the amendments referred to in Article 1, at the latest, as from the commencement date of its first financial year starting on or after 1 January 2016.

Article 3

This Regulation shall enter into force on the third day following that of its publication in the Official Journal of the European Union.

This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, 15 December 2015. For the Commission The President Jean-Claude JUNCKER

(1) OJ L 243, 11.9.2002, p. 1.

(2) Commission Regulation (EC) No 1126/2008 of 3 November 2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council (OJ L 320, 29.11.2008, p. 1).