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Committees at EU level

Contact Committee

The Contact Committee is an advisory body composed of representatives of the Member States and representatives of the Commission. It has been set up by the Commission according to the requirements contained in Article 52 of the Directive 78/660/EEC (4th Directive).

The functions of the Contact Committee are:

  • to facilitate harmonised application of the Accounting Directives through regular meetings dealing in particular with practical problems arising in connection with their application;
  • to advise the Commission, if necessary, on additions or amendments to the Accounting Directives.

Accounting Regulatory Committee

The Accounting Regulatory Committee (ARC) is composed of representatives from Member States and chaired by the Commission. The Committee has been set up by the Commission in accordance with the requirements contained in Article 6 of the IAS Regulation (EC/1606/2002).

The function of the Committee is a regulatory one and consists in providing an opinion on Commission proposals to adopt (endorse) an international accounting standard as envisaged under Article 3 of the IAS Regulation.

  • Rules of procedure PDF - 16 KBEnglish
  • Members PDF - 10 KBEnglish

The Commission and Accounting Regulatory Committee (ARC) approve the standard formulation for compliance with International Financial Reporting Standards as adopted by the EU (06.12.2005)

This formulation will be used in the notes to the account and in the audit report of EU companies subject to the Regulation 1606/2002/EC ("IAS regulation"). It supersedes earlier recommendations. See Draft Summary Records of the ARC meeting of 30 November 2005 PDF - 35 KBEnglish.

Commission and ARC provides important information for companies with December year (01.12.2005)

The Commission, at the 30 November ARC meeting, informed Member States that IFRS published in the Official Journal before a company signs its financial statements can be used in those financial statements. See Extract of the Summary Record.

The ARC, at the same meeting, voted unanimously to endorse IFRS 7, Amendments to IFRS 1 and 6, Amendment to IAS 1, Amendments to IAS 39 and IFRS 4 on financial guarantee contracts and IFRIC 6. See Votes of the ARC.

The ARC, at its 8 November 2005 meeting, voted unanimously to endorse the Amendment to IAS 39 on cash flow hedge accounting of forecast intragroup transactions. See Votes of the ARC.

Meetings
Date Agenda Summary Record Vote Documents
03.03.2009 PDFEnglish PDFEnglish PDFEnglish Reclassification of Financial Assets – Effective Date and Transition (Amendments to IAS 39 Financial Instruments: Recognition and Measurement and IFRS 7 Financial Instruments: Disclosures)
  • Regulation PDFEnglish
  • Annex PDFEnglish
IFRIC 15 Agreements for the Construction of Real Estate
  • Regulation PDFEnglish
  • Annex PDFEnglish
30.01.2008 PDFEnglish PDFEnglish PDFEnglish IFRS 3 Business Combinations
  • Regulation PDFEnglish
  • Annex PDFEnglish
IAS 27 Consolidated and Separate Financial Statements
  • Regulation PDFEnglish
  • Annex PDFEnglish
IFRIC 16 Hedges of a Net Investment in a Foreign Operation
  • Regulation PDFEnglish
  • Annex PDFEnglish
IAS 39 Eligible Hedged Items Amendment to IAS 39 Financial Instruments: Recognition and Measurement
  • Regulation PDFEnglish
  • Annex PDFEnglish
03.12.2008 PDFEnglish PDFEnglish    
06.11.2008 PDFEnglish PDFEnglish PDFEnglish Amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards and IAS 27 Consolidated and Separate Financial Statements "Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate
  • Regulation PDFEnglish
  • Annex PDFEnglish
Amendments to IAS 32 Financial Instruments: Presentation and IAS 1 Presentation of Financial Statements "Puttable Financial Instruments and Obligations Arising on Liquidation"
  • Regulation PDFEnglish
  • Annex PDFEnglish

Annual Improvements to IFRSs

  • Regulation PDFEnglish
  • Annex PDFEnglish

IFRIC 12 - Service concession arrangements

  • Regulation PDFEnglish
  • Annex PDFEnglish
15.10.2008 PDFEnglish PDFEnglish PDFEnglish Amendment to IAS 39 and IFRS 7 "Reclassification of Financial Assets"
  • Regulation PDFEnglish
  • Annex PDFEnglish
Statement by the Commission PDFEnglish
01.10.2008 PDFEnglish PDFEnglish    
11.07.2008 PDFEnglish PDF - 35 KBEnglish PDF - 35 KBEnglish IAS 1 - Presentation of Financial Statements
  • Regulation PDF - 35 KBEnglish
  • Annex PDF - 35 KBEnglish

IAS 23 - Borrowing Costs

  • Regulation PDF - 35 KBEnglish
  • Annex PDF - 35 KBEnglish

IFRS 2 - Share-based Payment

  • Regulation PDF - 35 KBEnglish
  • Annex PDF - 35 KBEnglish

IFRIC 13 - Customer Loyalty Programmes

  • Regulation PDF - 35 KBEnglish
  • Annex PDF - 35 KBEnglish

IFRIC 14 - The Limit on a Defined Benefit Asset, Minimum Funding - Requirements and their Interaction

  • Regulation PDF - 35 KBEnglish
  • Annex PDF - 35 KBEnglish
19.06.2008 PDFEnglish PDF - 35 KBEnglish PDF - 35 KBEnglish Commission Regulation on replacing and repealing Regulation (EC) N° 1725/2003 ("consolidation")
  • Draft Regulation PDF - 35 KBEnglish (PDF - 3 MB)
20.05.2008 PDFEnglish PDF - 35 KBEnglish    
10.03.2008 PDFEnglish PDF - 35 KBEnglish    
20.11.2007 PDFEnglish PDF - 35 KBEnglish    
01.10.2007 PDFEnglish PDF - 35 KBEnglish    
23.07.2007 PDF - 35 KBEnglish PDF - 35 KBEnglish    
06.06.2007 PDF - 35 KBEnglish PDF - 35 KBEnglish    
16.03.2007 PDF - 35 KBEnglish PDF - 35 KBEnglish    
02.02.2007 PDF - 35 KBEnglish PDF - 65 KBEnglish PDF - 35 KBEnglish IFRS 8 Operating Segments
  • Draft Regulation PDF - 35 KBEnglish
  • Annex PDF - 35 KBEnglish

IFRIC 10 Interim Financial Reporting and Impairment

  • Draft Regulation PDF - 35 KBEnglish
  • Annex PDF - 35 KBEnglish

IFRIC 11 IFRS 2 - Group and Treasury Share Transactions

  • Draft Regulation PDF - 35 KBEnglish
  • Annex PDF - 35 KBEnglish

Relationship between the IAS Regulation and the 4th and 7th Company Law Directives:

  • Meaning of "Annual Accounts" PDF - 30 KBEnglish
  • Issuing individual accounts before consolidated accounts PDF - 30 KBEnglish
24.11.2006 PDF - 35 KBEnglish PDF - 35 KBEnglish    
26.09.2006 PDF - 35 KBEnglish PDF - 35 KBEnglish   Postponement of the equivalence decision
  • TD decision PDF - 35 KBEnglish
  • Prospectus amending regulation PDF - 35 KBEnglish
07.07.2006 PDF - 35 KBEnglish PDF - 38 KBEnglish  

Postponement of the equivalence decision

  • TD decision PDF - 35 KBEnglish
  • Prospectus amending regulation PDF - 35 KBEnglish
24.04.2006 PDF - 35 KBEnglish PDF - 35 KBEnglish VotePDF - 35 KBEnglish Draft Regulation PDF - 35 KBEnglish

IFRIC 8 Scope of IFRS 2 PDF - 35 KBEnglish

IFRIC 9 Reassessment of Embedded Derivatives PDF - 35 KBEnglish

Draft proposal for postponement of the equivalence decision

  • TD decision PDF - 35 KBEnglish
  • Prospectus amending regulation PDF - 35 KBEnglish
17.02.2006 PDF - 35 KBEnglish PDF - 35 KBEnglish VotePDF - 35 KBEnglish Draft Regulation PDF - 35 KBEnglish
  • Annex: Amendment to IAS 21 The Effects of Changes in Foreign Exchange Rates PDF - 35 KBEnglish
  • Annex: IFRIC INTERPRETATION 7
    Applying the Restatement Approach under
    IAS 29 Financial Reporting in Hyperinflationary Economies PDF - 35 KBEnglish
30.11.2005 PDF - 35 KBEnglish PDF - 35 KBEnglish

ExtractPDF - 35 KBEnglish

VotePDF - 35 KBEnglish Draft Regulation PDF - 35 KBEnglish
  • Annex: Amendments to International Financial Reporting Standard 1 First-time Adoption of International Financial Reporting Standards PDF - 35 KBEnglish
  • Annex: International Financial Reporting Standard 7 - Financial Instruments: Disclosures PDF - 35 KBEnglish
  • Annex: Amendments to International Accounting Standard 1 Presentation of Financial Statements - Capital Disclosures PDF - 35 KBEnglish
  • Annex: Amendments to IAS 39 Financial Instruments: Recognition and Measurement and IFRS 4 Insurance Contracts – Financial Guarantee Contracts PDF - 35 KBEnglish
  • Annex: IFRIC INTERPRETATION 6 Liabilities arising from Participating in a Specific Market—Waste Electrical and Electronic Equipment PDF - 35 KBEnglish
08.11.2005 PDF - 35 KBEnglish PDF - 35 KBEnglish VotePDF - 35 KBEnglish Regulation (draft) (Amendments to International Accounting Standard (IAS) 39) PDF - 35 KBEnglish
08.07.2005 PDF - 35 KBEnglish PDF - 35 KBEnglish  
  • Regulation (draft) (Amendments to International Accounting Standard (IAS) 39) PDF - 35 KBEnglish
  • Annex: Amendments to IAS 39 Financial Instruments: Recognition and Measurement: The Fair Value Option PDF - 35 KBEnglish
20.05.2005 PDF - 17 KBEnglish PDF - 35 KBEnglish   Regulation (draft) (IFRS 1, 6, IAS 1, 16, 19, 24, 38, 39, IFRIC 4, 5) PDF - 22 KBEnglish
  • International Financial Reporting Standard (IFRS) 6 PDF - 97 KBEnglish
  • Amendment to IAS 19 PDF - 108 KBEnglish
  • IFRIC interpretation 4 PDF - 29 KBEnglish
  • IFRIC interpretation 5 PDF - 22 KBEnglish

Regulation (draft) (IFRS 1, IAS 39, SIC 12) PDF - 21 KBEnglish

  • Amendments to International Accounting Standard (IAS) 39 PDF - 40 KBEnglish
  • Amendment to SIC 12 PDF - 40 KBEnglish
25.02.2005 PDF - 14 KBEnglish PDF - 54 KBEnglish   IFRIC 2 PDF - 14 KBEnglish
Regulation (draft) PDF - 76 KBEnglish
20.12.2004 PDF - 14 KBEnglish PDF - 42 KBEnglish   IFRS 2 PDF - 112-401 KBČeštinaDanskDeutschEesti keelελληνικάEnglishEspañolFrançaisItalianoLatviešu valodaLietuviµ kalbaMagyarNederlandsPolskiPortuguêsSlovenčinaSlovenščinaSuomiSvenska
Regulation (draft) PDF - 34 KBEnglish
30.11.2004 PDF - 14 KBEnglish PDF - 32 KBEnglish   ZIP - 1.6 MBPDFEnglish
01.10.2004 PDF - 15 KBEnglish PDF - 34 KBEnglish   IAS 39 State of play
08.09.2004 PDF - 12 KBEnglish PDF - 24 KBEnglish    
09.07.2004 PDF - 11 KBEnglish PDF - 192 KBEnglish    
14.06.2004 PDF - 11 KBEnglish PDF - 26 KBEnglish    
30.04.2004 PDF - 12 KBEnglish PDF - 30 KBEnglish    
03.02.2004 PDF - 14 KBEnglish PDF - 32 KBEnglish    
21.11.2003 PDF - 10 KBEnglish PDF - 28 KBEnglish    
16.07.2003 PDF - 13 KBEnglish PDF - 21 KBEnglish   International Accounting Standards endorsed by the ARC
10.04.2003 PDF - 8 KBEnglish PDF - 14 KBEnglish    
14.02.2003 PDF - 8 KBEnglish PDF - 14 KBEnglish    
06.11.2002 PDF - 8 KBEnglish PDF - 11 KBEnglish    

Last update: 18-03-2009