22/04/2020 - EFRAG Endorsement Status Report - Update
The endorsement by the European Commission of Amendments to IFRS 3 Business Combinations: Definition of a business combination is now reflected in the Endorsement Status Report.
The European Union has published a Commission Regulation endorsing the Amendments to IFRS 3 Business Combinations: definition of a business combination. The Amendments are effective for annual periods beginning on or after 1 January 2020.
The objective of the Amendments is to assist entities to determine whether a transaction should be accounted for as a business combination or as an asset acquisition.
Link to the publication in the Official Journal of the European Union: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.L_.2020.127.01.0013.01.ENG&toc=OJ:L:2020:127:TOC.
The updated EFRAG Endorsement Status Report can be downloaded below and under the menu 'Endorsement Status'.