Press Release: Financial reporting: Commission adopts Regulation endorsing International Accounting Standards

The European Commission adopted in September 2003 a Regulation endorsing International Accounting Standards (IASs), including related interpretations (SICs), and therefore confirming the requirement for their compulsory use from 2005 under the terms of the general IAS Regulation adopted by the European Parliament and the Council in 2002. The Commission's adoption of this implementing Regulation follows the Accounting Regulatory Committee's unanimous endorsement of IASs in July 2003.

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