EU published Interest several Amendments to standards (Annual Improvements 2018-2020 Cycle)

The European Union has published the Commission Regulation (EC) No 2021/1080 of 28 June 2021 amending Regulation (EC) No 1226/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council in the Official Journal 2 July 2021.

With this Regulation amendments to the standards related to the Annual Improvements to IFRS Standards – 2018-2020 Cycle are adopted.

The following standards are changed:
IAS 16 Property, Plant and Equipment
IAS 37 Provisions, contingent liabilities and contingent assets
IAS 41 Agriculture
IFRS 1 First-time Adoption of IFRS
IFRS 3 Business Combinations
IFRS 9 Financial Instruments