EU has not yet endorsed the amendment to IFRS3, ‘Business combinations', that revises the definition of a business

EU has not yet endorsed the amendment to IFRS3, ‘Business combinations', that revises the definition of a business

Publication date: 20 Jan 2020

Must know

Must know
The amendments to the guidance in IFRS 3, ‘Business combinations’, that revise the definition of a business, are effective for business combinations occurring in annual periods beginning on or after 1 January 2020. However, these amendments have not yet been endorsed by the EU. According to EFRAG, the European Parliament’s required scrutiny period will conclude mid-March 2020 and endorsement is predicted to follow before the end of March.
 
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