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21.11.2013 Official
Journal
of
the
European
Union
L
312/1
II
(Non-legislative acts)
REGULATIONS
COMMISSION REGULATION (EU) No 1174/2013
of 20 November 2013
amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in
accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council
as regards International Financial Reporting Standards 10 and 12 and International Accounting
Standard 27
(Text with EEA relevance)
THE EUROPEAN COMMISSION,
(3) The
amendments
to
IFRS
10,
IAS
27
and
certain
consequential amendments to other standards contain
references to IFRS 9 Financial Instruments that at
Having regard to the Treaty on the Functioning of the European
present cannot be applied as IFRS 9 has not been
Union,
adopted by the Union. Therefore, any reference to IFRS
9 as laid down in the Annex to this Regulation should be
read as a reference to IAS 39.
Having regard to Regulation (EC) No 1606/2002 of the
European Parliament and of the Council of 19 July 2002 on
the application of the international accounting standards ( 1 ), and
(4) The
consultation
with
the
Technical
Expert
Group
of
the
in particular Article 3(1) thereof,
European Financial Reporting Advisory Group confirms
that the amendments to IFRS 10, IFRS 12 and IAS 27
meet the technical criteria for adoption set out in
Whereas:
Article 3(2) of Regulation (EC) No 1606/2002.
(1) By
Commission
Regulation
(EC)
No
1126/2008
( 2 )
certain international standards and interpretations that
(5) Regulation
(EC)
No
1126/2008
should
therefore
be
were in existence at 15 October 2008 were adopted.
amended accordingly.
(2) In
October
2012,
the
International
Accounting
Standards (6) The
measures
provided
for
in
this
Regulation
are
in
Board (IASB) published amendments to International
accordance with the opinion of the Accounting Regu
Financial Reporting Standard (IFRS) 10 Consolidated
latory Committee,
Financial Statements, IFRS 12 Disclosure of Interests in
Other Entities and International Accounting Standard
(IAS) 27 Separate Financial Statements. IFRS 10 has
been amended in order to better reflect the business
HAS ADOPTED THIS REGULATION:
model of investment entities. It requires that investment
entities measure their subsidiaries at fair value through
profit or loss account rather than consolidate them. IFRS
Article 1
12 has been amended in order to require specific
disclosure about such subsidiaries of investment entities.
1. The
Annex
to
Regulation
(EC)
No
1126/2008
is
amended
The amendments to IAS 27 also removed the option for
as follows:
investment entities to measure investments in certain
subsidiaries either at cost or at fair value in their
separate financial statements. Amendments to IFRS 10,
IFRS 12 and IAS 27 imply by way of consequence
(a) International Financial Reporting Standard (IFRS) 10
amendments to IFRS 1, IFRS 3, IFRS 7, IAS 7, IAS 12,
Consolidated Financial Statements is amended as set out in
IAS 24, IAS 32, IAS 34 and IAS 39 in order to ensure
the Annex to this Regulation;
consistency between international accounting standards.
( 1 ) OJ L 243, 11.9.2002, p. 1.
(b) IFRS 12 Disclosure of Interests in Other Entities is amended as
( 2 ) OJ L 320, 29.11.2008, p. 1.
set out in the Annex to this Regulation;

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L 312/2
EN
Official Journal of the European Union
21.11.2013
(c) International Accounting Standard (IAS) 27 Separate
2. Any
reference
to
IFRS
9 Financial Instruments in the
Financial Statements is amended as set out in the Annex to
amendments referred to in paragraph 1 shall be read as a
this Regulation;
reference to IAS 39.
Article 2
(d) IFRS 1 First-time Adoption of International Financial Reporting
Each company shall apply the amendments referred to in
Standards, IFRS 3 Business Combinations, IFRS 7 Financial
Article 1(1), at the latest, as from the commencement date of
Instruments: Disclosures, IAS 7 Statement of Cash Flows, IAS
its first financial year starting on or after 1 January 2014.
12 Income Taxes, IAS 24 Related Party Disclosures, IAS 32
Financial Instruments: Presentation, IAS 34 Interim Financial
Article 3
Reporting and IAS 39 Financial Instruments: Recognition and
Measurement are amended in accordance with the
This Regulation shall enter into force on the third day following
amendments to IFRS 10 as set out in the Annex to this
that of its publication in the Official Journal of the European
Regulation.
Union.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 20 November 2013.
For the Commission
The President
José Manuel BARROSO

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EN
21.11.2013 Official
Journal
of
the
European
Union
L
312/3
ANNEX
INTERNATIONAL ACCOUNTING STANDARDS
IFRS 10 IFRS
10 Consolidated Financial Statements
IFRS 12 IFRS
12 Disclosure of Interests in Other Entities
IAS 27 IAS
27 Separate Financial Statements
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information can be obtained from the IASB at www.iasb.org