Commission Regulation (EU) 2025/1331 of 9 July 2025 amending Regulation (EU) 2023/1803 as regards International Financial Reporting Standards 1, 7, 9 and 10, and International Accounting Standard 7

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards (1), and in particular Article 3(1) thereof,

Whereas:

(1) By Commission Regulation (EU) 2023/1803 (2), certain international accounting standards and interpretations that were in existence on 8 September 2022 were adopted.

(2) On 18 July 2024, the International Accounting Standards Board (‘IASB’) issued the Annual Improvements to IFRS Accounting Standards – Volume 11 in the framework of its regular improvement process. The annual improvements aim at streamlining and clarifying existing standards. The objective of the annual improvements is to address non-urgent but necessary issues discussed by the IASB during the project cycle on areas of inconsistency in IFRS Accounting Standards, or where clarification of wording is required.

(3) The annual improvements contain small amendments to International Financial Reporting Standard (‘IFRS’) 1 First-time Adoption of International Financial Reporting Standards, IFRS 7 Financial Instruments: Disclosures, IFRS 9 Financial Instruments and IFRS 10 Consolidated Financial Statements and International Accounting Standard (‘IAS’) 7 Statement of Cash Flows.

(4) Following a consultation with the European financial reporting advisory group EFRAG, the Commission concludes that the amendments to IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7 meet the conditions for adoption set out in Article 3(2) of Regulation (EC) No 1606/2002.

(5) Regulation (EU) 2023/1803 should therefore be amended accordingly.

(6) The measures provided for in this Regulation are in accordance with the opinion of the Accounting Regulatory Committee,

HAS ADOPTED THIS REGULATION:

Article 1

In the Annex to Regulation (EU) 2023/1803, the following is amended in accordance with the Annex to this Regulation:

(a) International Financial Reporting Standard (‘IFRS’) 1 First-time Adoption of International Financial Reporting Standards;

(b) IFRS 7 Financial Instruments: Disclosures;

(c) IFRS 9 Financial Instruments;

(d) IFRS 10 Consolidated Financial Statements;

(e) International Accounting Standard (‘IAS’) 7 Statement of Cash Flows.

Article 2

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 2026.

Article 3

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

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 9 July 2025.

For the Commission The President Ursula VON DER LEYEN

(1) OJ L 243, 11.9.2002, p. 1, ELI: http://data.europa.eu/eli/reg/2002/1606/oj.

(2) Commission Regulation (EU) 2023/1803 of 13 September 2023 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council (OJ L 237, 26.9.2023, p. 1, ELI: http://data.europa.eu/eli/reg/2023/1803/oj).