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Impact of IFRS in the EU

Armen Hovhannisyan Armen Hovhannisyan

The Commission is evaluating the Regulation 1606/2002 ("the IAS Regulation") to assess:

  • IFRS's actual effects
  • how far they have met the IAS Regulation's initial objectives
  • whether these goals are still relevant
  • any areas for improvement

As part of this evaluation process the European Commission is holding a public consultation to seek views from all interested parties on their experience of the IAS Regulation.

Included within our comments we say:

  • in our view the Regulation's objectives remain equally valid today
  • we believe the IAS regulation has been a very significant catalyst for the growing use of IFRS around the world
  • we generally support the current scope of the IAS regulation