The Commission is evaluating the Regulation 1606/2002 ("the IAS Regulation") to assess:
- IFRS's actual effects
- how far they have met the IAS Regulation's initial objectives
- whether these goals are still relevant
- any areas for improvement
As part of this evaluation process the European Commission is holding a public consultation to seek views from all interested parties on their experience of the IAS Regulation.
Included within our comments we say:
- in our view the Regulation's objectives remain equally valid today
- we believe the IAS regulation has been a very significant catalyst for the growing use of IFRS around the world
- we generally support the current scope of the IAS regulation
