Effective date/EU endorsement

Publication date: 05 Jun 2020

✓ below indicates the current international standards adopted by the EU and the date of the regulation adopting them. The table at the end of this document indicates the progress of IFRSs and interpretations not yet adopted by the EU and of current IASB/IFRIC exposure drafts.

Extracts of the EU Regulations adopting international standards are available in Law and regulations – EU regulations.

EU IFRS effective date IFRS (IASB)
   

  Preface to international financial reporting standards.

  Framework for the preparation and presentation of financial statements.

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IAS 1, Presentation of financial statements.
✓ 17 Dec 2008 Annual periods beginning on or after 1 January 2009 IAS 1 Revised, Presentation of financial statements
✓ 27 Jan 2006 Annual periods beginning on or after 1 January 2007 Amendment to IAS 1 – Capital disclosures
✓ 21 Jan 2009 Annual periods beginning on or after 1 January 2009 Amendment to IAS 32 Financial instruments: Presentation and IAS 1 Presentation of financial statements Puttable financial instruments and obligations arising on liquidation.
✓ 05 June 2012  Annual periods beginning on or after 1 July 2012 Amendment to IAS 1, Presentation of financial statements, on other comprehensive income (OCI)
18 Dec 2015 Annual periods beginning on or after 1 January 2016 Amendment to IAS 1, 'Presentation of financial statements' on disclosure initiative
29 Nov 2019 Annual periods beginning on or after 1 January 2020 Amendment to IAS 1 and IAS 8 on definition of materiality
o/s Annual periods beginning on or after 1 January 2022 Amendment to IAS 1 on classification of liabilities

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IAS 2, Inventories.

✓ 29 Sep 2003 Annual periods beginning on or after 1 January 1994 IAS 7, Cash flow statements.
✓ 09 Nov 2017 Annual periods beginning on or after 1 January 2017 Amendment to IAS 7 on disclosure initiative

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IAS 8, Accounting policies, changes in accounting estimates and errors.

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IAS 10, Events after the balance sheet date.

✓ 29 Sep 2003 Annual periods beginning on or after 1 January 1995 IAS 11, Construction contracts.
✓ 23 Jul 2009 Annual periods beginning on or after 1 January 2009 IFRIC 15, 'Agreements for construction of real estates'

✓ 29 Sep 2003 Annual periods beginning on or after 1 January 1998 IAS 12, Income taxes.
✓ 29 Sep 2003   SIC 21, Income taxes – Recovery of revalued non-depreciable assets.
✓ 29 Sep 2003   SIC 25, Income taxes – Changes in the tax status of an enterprise or its shareholders.
✓ 29 Dec 2012 Annual periods beginning on or after 1 January 2012 (endorsed for 1 January 2013) 'Amendment to IAS 12,'Income taxes' on deferred tax
✓ 09 Nov 2017 Annual periods beginning on or after 1 January 2017 Amendment to IAS 12 on recognition of deferred tax assets for unrealised losses
23 Oct 2018 Annual periods beginning on or after 1 January 2019 IFRIC 23, 'Uncertainty over income tax

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IAS 16, Property, plant and equipment.
02 Dec 2015 Annual periods beginning on or after 1 January 2016 Amendment to IAS 16 and IAS 38 - Clarification of acceptable methods of depreciation and amortisation
o/s Annual periods beginning on or after 1 January 2022 Amendment to IAS 16 on proceeds before intended use
    See also IFRIC 1 (with IAS 37 below).

✓ 23 Nov 2015 Annual periods on or after 1 January 2016 Amendment to IAS 16 regarding bearer plants
✓ 02 Dec 2015 Annual periods on or after 1 January 2016 Amendment to IAS 16 ,'Property, plant and equipment' on depreciation

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IAS 17, Leases.
✓ 29 Sep 2003   SIC 15, Operating leases – Incentives.
✓ 29 Sep 2003   SIC 27, Evaluating the substance of transactions in the legal form of a lease.
✓ 08 Nov 2005 Annual periods beginning on or after 1 January 2006 IFRIC 4, Determining whether an arrangement contains a lease.

✓ 29 Sep 2003 Annual periods beginning on or after 1 January 1995 IAS 18, Revenue.
✓ 29 Sep 2003 Annual periods beginning on or after 31 December 2001 SIC 31, Revenue – Barter transactions involving advertising services.
✓ 16 Dec 2008 Annual periods on or after 1 July 2008 IFRIC 13, Customer loyalty programmes
✓ 27 Nov 2009 Annual periods on or after 1 July 2009 although EU endorsed for annual periods on or after 31 October 2009 IFRIC 18, Transfer of assets from customers

✓ 29 Sep 2003 Annual periods beginning on or after 1 January 1999 IAS 19, Employee benefits.
✓ 08 Nov 2005 Annual periods beginning on or after 1 January 2006 Amendment to IAS 19, Employee benefits: Actuarial gains and losses, group plans and disclosures.
✓ 05 June 2012 Annual periods beginning on or after 1 January 2013 IAS 19, (revised 2011), Employee benefits
✓ 09 Jan 2015 (endorsed as effective for annual periods on or after 01 Feb 2015, earlier adoption is permitted) Annual periods beginning on or after 1 July 2014 Amendment to IAS 19, Employee benefits on defined benefit plans
✓ 16 Dec 2008 Annual periods beginning on or after 1 January 2008 IFRIC 14, IAS 19 – The limit on a defined benefit asset, minimum funding requirements and their interaction
✓ 19 Jul 2010 Annual periods beginning on or after 1 January 2011 Amendment to IFRIC 14, IAS 19 – Prepayments of a minimum funding requirement
13 Mar 2019 Annual periods beginning on or after 1 January 2019 Amendments to IAS 19 – Employee benefits - plan amendments, curtailments or settlements

✓ 29 Sep 2003 Annual periods beginning on or after 1 January 1984 IAS 20, Accounting for government grants and disclosure of government assistance.
✓ 29 Sep 2003   SIC 10, Government assistance – No specific relation to operating activities.

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IAS 21, The effects of changes in foreign exchange rates.
✓ 08 May 2006 Annual periods beginning on or after 1 January 2005 Amendment to IAS 21: Net investment in a foreign operation
✓ 29 Sep 2003   SIC 7, Introduction of the euro.
✓ 28 March 2018 Annual periods beginning on or after 1 January 2018 IFRIC 22 'Foreign currency transactions and advance consideration'

✓ 29 Sep 2003 Annual periods beginning on or after 1 January 1995 IAS 23, Borrowing costs.
✓ 10 Dec 2008 Annual periods beginning on or after 1 January 2009 IAS 23 (2007), Borrowing costs.

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IAS 24, Related party disclosures.
✓ 19 Jul 2010 Annual periods beginning on or after 1 January 2011 IAS 24 (revised), Related party disclosures

✓ 29 Sep 2003   IAS 26, Accounting and reporting by retirement benefit plans.

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IAS 27, Consolidated and separate financial statements.
✓ 12 Jun 2009 Annual periods on or after 1 July 2009 IAS 27 (Revised), Consolidated and separate financial statements.
✓ 29 Dec 2012 Annual periods on or after 1 January 2013 (endorsed for 1 January 2014) IAS 27 (Revised 2011), Separate financial statements
18 Dec 2015 Annual periods on or after 1 January 2016 Amendment to IAS 27, 'Separate financial statements'
✓ 29 Sep 2003   SIC 12, Consolidation – special purpose entities.
✓ 25 Oct 2005   IFRIC amendment to SIC 12.
✓ 08 Nov 2005 Annual periods beginning on or after 1 January 2006 IFRIC 5, Rights to interests arising from decommissioning, restoration and environmental rehabilitation funds.

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IAS 28, Investments in associates.
✓ 29 Dec 2012 Annual periods beginning on or after 1 January 2013 (endorsed for 1 January 2014) IAS 28 (Revised 2011), Associates and joint ventures
o/s To be determined* Amendment to IFRS 10 and IAS 28 on sale or contribution of assets
08 Feb 2019 Annual periods beginning on or after 1 January 2019 Amendments to IAS 28 on on long term interests in associates and joint ventures

✓ 29 Sep 2003 Annual periods beginning on or after 1 January 1990 IAS 29, Financial reporting in hyperinflationary economies.
✓ 08 May 2006 Annual periods beginning on or after 1 March 2006 IFRIC 7, Applying the restatement approach under IAS 29 Financial reporting in hyperinflationary economies
✓ 28 Mar 2018 Annual periods on or after 1 January 2018 IFRC 22, Foreign currency transactions and advance considerations'

✓ 29 Sep 2003   IAS 30, Disclosures in the financial statements of banks and similar financial institutions (superseded by IFRS 7).

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IAS 31, Financial reporting of interests in joint ventures.
✓ 29 Sep 2003 Annual periods beginning on or after 1 January 1999 SIC 13, Jointly controlled entities – Non–monetary contributions by venturers.

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IAS 32, Financial instruments: Disclosure and presentation (changed to 'IAS 32, Financial instruments: Presentation' by IFRS 7).
✓ 22 Jan 2009 Annual periods beginning on or after 1 January 2009 Amendment to IAS 32 Financial instruments: Presentation and IAS 1 Presentation of financial statements Puttable financial instruments and obligations arising on liquidation.
✓ 24 Dec 2009 Annual periods beginning on or after 1 February 2010 Amendment to IAS 32 Financial instruments: Presentation on classification of rights issues
✓ 29 Dec 2012 Annual periods beginning on or after 1 January 2014 Amendment to IAS 32 Financial instruments: Presentation on Offsetting financial assets and financial liabilities
✓ 07 Jul 2005 Annual periods beginning on or after 1 January 2005 IFRIC 2, Members' shares in co–operative entities and similar instruments.
✓ 23 Jul 2010 Annual periods beginning on or after 1 Juyl 2010 IFRIC 19, Extinguishing financial liabilities with equity instruments

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IAS 33, Earnings per share.

✓ 29 Sep 2003 Annual periods beginning on or after 1 January 1999 IAS 34, Interim financial reporting.
✓ 01 Jun 2007 Annual periods beginning on or after 1 November 2006 IFRIC 10, Interim financial reporting and impairment.

✓ 29 Dec 2004 Business combinations after 31 March 2004 IAS 36, Impairment of assets.
✓20 Dec 2013 Annual periods beginning on or after 1 January 2014 Amendment to IAS 36, 'Impairment of assets' on recoverable amount disclosures

✓ 29 Sep 2003 Annual periods beginning on or after 1 January 1999

IAS 37, Provisions, contingent liabilities and contingent assets.

✓ 29 Dec 2004 Annual periods beginning on or after 1 September 2004 IFRIC 1, Changes in existing decommissioning, restoration and similar liabilities.
✓ 27 Jan 2006 Annual periods beginning on or after 1 December 2005 IFRIC 6, Liabilities arising from participating in a specific market – Waste electrical and electronic equipment.
✓ 29 Dec 2012 Annual periods beginning on or after 1 January 2013 IFRIC 20, 'Stripping costs in the production phase of a surface mine'
✓ 13 June 2014 Annual periods beginning on or after 1 January 2014 IFRIC 21, 'Levies'
o/s Annual periods beginning on or after 1 January 2022 Amendment to IAS 37 - onerous contracts - costs of fulfilling a contracts

✓ 29 Dec 2004 Business combinations after 31 March 2004 IAS 38, Intangible assets.
✓ 29 Sep 2003 25 March 2002 SIC 32, Intangible assets – web site costs (for UK see FRS 15).
2 Dec 2015 Annual periods on or after 1 January 2016 Amendment to IAS 16 and IAS 38 - Clarification of acceptable methods of depreciation and amortisation
  IFRIC 3, Emission rights – withdrawn in Jun 2005.

Note 1 Annual periods beginning on or after 1 January 2005 IAS 39, Financial instruments: Recognition and measurement.
✓ 15 Oct 2008 Reclassifications on or after 1 July 2008 Amendment to IAS 39 and IFRS 7 – Reclassification of financial assets
✓ 16 Sep 2009 Annual periods beginning on or after 1 Jul 2009 Amendment to IAS 39 – Eligible hedged items
✓ 25 Oct 2005   Amendment to IAS 39 – Transition and initial recognition of financial assets and financial liabilities.
✓ 21 Dec 2005 Annual periods beginning on or after 1 January 2006 Amendment to IAS 39 – Cash flow hedge accounting of forecast intragroup transactions.
✓ 15 Nov 2005 Annual periods beginning on or after 1 January 2006 Amendment to IAS 39 – The fair value option.
✓ 27 Jan 2006 Annual periods beginning on or after 1 January 2006 Amendment to IAS 39 and IFRS 4 – Financial guarantee contracts.
✓ 04 Jun 2009 Annual periods beginning on or after 1 October 2008 IFRIC 16, 'Hedges of a net investment in a foreign operation'

✓ 09 Sep 2006

Annual periods beginning on or after 1 June2006 IFRIC 9, Re-assessment of embedded derivatives.
✓ 27 Nov 2009 Annual periods beginning on or after 1 July 2008 Amendment to IFRIC 9 and IAS 39 on embedded derivatives.
20 Dec 2013 Annual periods beginning or or after 1 January 2014 Amendment to IAS 39 on novation of derivatives and hedge accounting
n/a   IAS 39, Implementation guidance.
15 Jan 2020 Annual periods beginning on or after 1 January 2020 Amendment to IFRS 7, IFRS 9 and IAS 39 Interest rate benchmark reform

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IAS 40, Investment property.
✓ 14 March 2018 Annual periods beginning on or after 1 January 2018 IAS 40, 'Investment property' transfers of investment property
✓ 29 Sep 2003 Lease terms beginning on or after 1 January 1999 SIC 15, Operating leases – Incentives.

✓ 29 Sep 2003 Annual periods beginning on or after 1 January 2003 IAS 41, Agriculture.
23 Nov 2015 Annual periods on or after 1 January 2016 Amendment to IAS 41 regarding bearer plants

✓ 06 Apr 2004 Annual periods beginning on or after 1 January 2004 IFRS 1, First–time adoption of International Financial Reporting Standards.
✓ 26 Nov 2009 Annual periods beginning on or after 1 January 2009 IFRS 1 (revised) First time adoption of IFRS
✓ 27 May 2008 Annual periods beginning on or after 1 January 2009 Amendment to IFRS 1, 'First time adoption of IFRS' and IAS 27, 'Consolidated and separate financial statements'
✓ 25 Jun 2010 Annual periods beginning on or after 1 January 2010 Amendments to IFRS 1, on first time adoption of IFRS additional exemptions
✓ 30 Jun 2010 Annual periods beginning on or after 1 July 2010 Amendments to IFRS 1, 'First time adoption of IFRS', on IFRS 7 exemptions
✓ 11 Dec 2012 Annual periods beginning on or after 1 July 2011 Amendments to IFRS 1, 'First time adoption', on hyperinflation and fixed dates
✓ 5 March 2013 Annual periods beginning on or after 1 January 2013 Amendments to IFRS 1, 'First time adoption' on government loans

✓ 04 Feb 2005 Annual periods beginning on or after 1 January 2005 IFRS 2, Share–based payment.
✓ 16 Dec 2008 Annual periods beginning or or after 1 January 2009 IFRS 2, Share-based payment Amendment Vesting conditions and cancellations
23 Mar 2010 Annual periods beginning on or after 1 January 2010 IFRS 2, Share-based payment – Group cash-settled share-based payment transactions
✓ 09 Sep 2006 Annual periods beginning on or after 1 May 2006 IFRIC 8, Scope of IFRS 2
✓ 01 Jun 2007 Annual periods beginning on or after 1 March 2007 IFRIC 11, IFRS 2 – Group and treasury share transactions.
✓ 28 Feb 2018 Annual periods beginning on or after 1 Jan 2018 IFRS 2, share based payment amendment Classification and measurement

✓ 29 Dec 2004 Business combinations after 31 March 2004 IFRS 3, Business combinations
✓12 Jun 2009 Business combinations after 1 July 2009 IFRS 3 (Revised) Business combinations
22 April 2020 Annual periods beginning on or after 1 January 2020 'Amendment to IFRS 3, 'Business combinations' on definition of a business
o/s Annual periods beginning on or after 1 January 2022 Amendment to IFRS 3 to update reference to the Conceptual framework

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IFRS 4, Insurance contracts.
✓ 27 Jan 2006 Annual periods beginning on or after 1 January 2006 Amendment to IAS 39 and IFRS 4 – Financial guarantee contracts
n/a   Revised guidance on implementing IFRS 4 (for IFRS 7 changes).
✓ 09 Nov 2017 Annual periods beginning on or after 1 January 2018 Amendment to IFRS 4 'Insurance contracts' regarding the implementation of IFRS 9, 'Financial instruments'

✓ 29 Dec 2004 Annual periods beginning on or after 1 January 2005 IFRS 5, Non–current assets held for sale and discontinued operations.

✓ 08 Nov 2005 Annual periods beginning on or after 1 January 2006 IFRS 6, Exploration for and evaluation of mineral resources.
✓ 27 Jan 2006   Amendment to IFRS 1 and IFRS 6.

✓ 27 Jan 2006 Annual periods beginning on or after 1 January 2007 IFRS 7, Financial instruments: Disclosures.
✓ 27 Nov 2009 Annual periods beginning on or after 1 January 2009 Amendment to IFRS 7, Financial instruments: Disclosures.
✓ 23 Nov 2011 Annual periods beginning on or after 1 July 2011 Amendment to IFRS 7, Financial instruments: Transfers of financial assets
✓ 29 Dec 2012 Annual periods beginning on or after 1 January 2013 Amendment to IFRS 7, 'Financial instruments: Disclosures' on Offsetting financial assets and financial liabilities
o/s Annual periods beginning on or after 1 January 2020 Amendment to IFRS 7, IFRS 9 and IAS 39 Interest rate benchmark reform

✓ 21 Nov 2007 Annual periods beginning on or after 1 January 2009 IFRS 8, Operating segments.
✓ 29 Sep 2003   IAS 14, Segment reporting (superseded by IFRS 8).

✓ 22 Nov 2016 Annual periods beginning on or after 1 January 2018 IFRS 9, Financial instruments
✓ 22 Nov 2016 Annual periods beginning on or after 1 January 2018 Amendment to IFRS 9, Financial instruments on general hedge accounting
✓ 22 March 2018 Annual periods beginning on or after 1 January 2019 Amendment to IFRS 9, Financial instruments on prepayment features with negative compensation
o/s Annual periods beginning on or after 1 January 2020 Amendment to IFRS 7, IFRS 9 and IAS 39 Interest rate benchmark reform

✓ 29 Dec 2012 Annual periods beginning on or after 1 January 2013 (endorsed for 1 January 2014) IFRS 10, Consolidated financial statements
✓ 05 Apr 2013 Annual periods beginning on or after 1 January 2013 Amendment to IFRS 10,11 and 12, 'Transition guidance'
✓ 20 Nov 2013 Annual periods beginning on or after 1 January 2014 Amendment to IFRS 10, 12 and IAS 27, 'Consolidation for investment entities'
o/s To be determined* Amendment to IFRS 10 and IAS 28 on sale or contribution of assets
22 Sept 2016 Annual periods beginning on or after 1 January 2016 Amendment to IFRS 10 and IAS 28 on on investment entities applying the consolidation exception

✓ 29 Dec 2012 Annual periods beginning on or after 1 January 2013 (endorsed for 1 January 2014) IFRS 11, Joint arrangements

24 Nov 2015 Annual periods on or after 1 January 2016 Amendment to IFRS 11, 'Joint arrangements' on acquisition of an interest in a joint operation

✓ 29 Dec 2012 Annual periods beginning on or after 1 January 2013 (endorsed for 1 January 2014) IFRS 12, Disclosures of interests in other entities

✓ 29 Dec 2012 Annual periods beginning on or after 1 January 2013 IFRS 13, Fair value measurement

o/s Annual periods beginning on or after 1 January 2016 IFRS 14, 'Regulatory deferral accounts'

✓ 22 Sept 2016 Annual periods beginning on or after 1 January 2018 IFRS 15, 'Revenue from contracts with customers'
o/s Annual periods beginning on or after 1 January 2018 Amendments to ' Revenue from contracts with customers' - Clarifications

✓ 09 Nov 2017 Annual periods beginning on or after 1 January 2019 IFRS 16, 'Leases'
o/s Annual periods beginning on or after 1 June 2020 Amendment on Covid 19 - Related rent concessions

o/s Annual periods beginning on or after 1 January 2021 IFRS 17, 'Insurance contracts'

✓ 26 Mar 2009 Annual periods on or after 1 January 2008 but EU endorsed for periods beginning 30 March 2009 IFRIC 12, Service concession arrangements.
✓ 29 Sep 2003 31 December 2001 SIC 29, Disclosure – Service concession arrangements.

✓ 23 Jan 2009 Annual periods beginning on or after 1 January 2009 Improvements to IFRSs (2008)
23 Mar 2010 Annual periods beginning on or after 1 January 2010 Improvements to IFRSs (2009)
✓ 18 Feb 2011 Annual periods beginning on or after 1 January 2011

Annual improvements 2010

✓ 27 Mar 2013 Annual periods beginning on or after 1 January 2013 Annual improvements 2011
19 Dec 2014 (endorsed as effective for annual periods on or after for 01 Jan 2015, earlier adoption is permitted) Annual periods on or after 1 July 2014 Annual improvements (2011-2013)
✓09 Jan 2015 (endorsed as effective for annual periods on or after for 01 Feb 2015, earlier adoption is permitted) Annual periods on or after 1 July 2014 Annual improvements (2010-2012)
15 Dec 2015 Annual periods on or after 1 January 2016 Annual improvements (2012-2014)
7 Feb 2018 Annual periods on or after 1 January 2018 Annual improvements (2014-2016)
14 Mar 2019 Annual periods on or after 1 January 2019 Annual improvements (2015-2017)


[Includes up to: IFRS 17 and IFRIC 23]

Status of standards and interpretations not yet adopted by the EU

✓ below indicates that the standard or interpretation has been recommended by EFRAG or ARC (as appropriate).

  Standard/interpretation EFRAG ARC
IFRS 17 Insurance contracts o/s o/s
IAS 1 Classification of liabilities o/s o/s

Notes:

Note 1 – In November 2004, the EC adopted a 'carved–out' version of IAS 39, which deleted a limited number of words and paragraphs relating to the use of the ' fair value option' for financial liabilities and certain aspects of hedge accounting. In November 2005, the EC adopted the IASB's amendments to IAS 39 published in Jun 2005 ('the fair value option'). The hedge accounting carve out remains (affecting the following paragraphs: Standard: paragraph 81A; Application guidance: 99A, 99B, 107A, 114(c) and (g), 118(b), 119(d), (e) and (f), 121, 122, 124(a) and (d), 126, 127, 129 and 130).

* In December 2015 the IASB postponed the effective date of this amendment indefinitely pending the outcome of its research project on the equity method of accounting.

 
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