14/01/2021 - EFRAG Endorsement Status Report - Update
The endorsement by the European Commission of Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Interest Rate Benchmark Reform – Phase 2 is now reflected in the Endorsement Status Report.
The European Union has published a Commission Regulation endorsing Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Interest Rate Benchmark Reform – Phase 2 ('The Amendments'). The Amendments are effective for annual periods beginning on or after 1 January 2021 with earlier adoption allowed.
The objective of the Amendments is to assist entities with providing useful information to users of financial statements and to support preparers in applying IFRS Standards when changes are made to contractual cash flows or hedging relationships, as a result of the transition from an IBOR benchmark rate to alternative benchmark rates, in the context of the ongoing risk-free rate reform.
Link to the publication in the Official Journal of the European Union here.
The updated EFRAG Endorsement Status Report can be downloaded below and under the menu 'Endorsement Status'.
