Commission Regulations (EU) No 243/2010 adopting “Improvements to IFRS” and No 244/2010 amending the IFRS 2

The following Regulations have been published in the Official Journal of the European Union L 77 on 24 March 2010:
- Commission Regulation (EU) No 243/2010 of 23 March 2010. It adopts Improvements to International Financial Reporting Standards (IFRSs), issued in April 2009, amending certain international accounting standards (IAS 1, IAS 7, IAS 17, IAS 36, IAS 38, IAS 39, IFRS 2, IFRS 5, IFRS 8, IFRIC 9 and IFRIC 16);
- Commission Regulation (EU) No 244/2010 of 23 March 2010. It amends the IFRS 2, providing clarification on the accounting treatment of share-based transactions in which the supplier of the goods or services is paid in cash and the obligation is incurred by another group entity (group cash-settled share-based payment transactions). It deletes IFRIC 8 and IFRIC 11.

Both Regulations shall be applied, at the latest, as from the commencement date of its first financial year starting after 31 December 2009.

Please find the Regulations herewith attached.