EU endorsed IFRS (International Financial Reporting Standards)16

The EU Commission endorsed the following regulations dated October, 31, 2017, November 3, 2017 and November 6, 2017: IFRS 16 “Leases”, clarifications to IFRS 15 “Revenues from Contracts with Customers”, IFRS 4 (Insurance Contracts), IAS 7 (Cash flow statement) and IAS 12 (Income taxes). The most important endorsement relates to IFRS 16 in terms of lease accounting which is binding for business years as from January 1st, 2019.

Endorsement – EFRAG