Commission Regulation (EU) 2024/2862 of 12 November 2024 amending Regulation (EU) 2023/1803 as regards International Accounting Standard 21

The Annex to Regulation (EU) 2023/1803 is amended as follows: (1) International Accounting Standard 21 The Effects of Changes in Foreign Exchange Rates (‘IAS 21’) is amended as set out in the Annex to this Regulation; (2) International Financial Reporting Standard 1 First-time Adoption of International Financial Reporting Standards (‘IFRS 1’) is amended in accordance with the amendments to IAS 21 as set out in the Annex to this Regulation.

Each company shall apply the amendments referred to in Article 1, at the latest, as from the commencement date of its first financial year starting on or after 1 January 2025.

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.