(3)Following the consultations with the European Financial Advisory Group, the Commission concludes that the amendments to International Accounting Standard (IAS) 12 Income Taxes , IAS 23 Borrowing Costs , International Financial Reporting Standard (IFRS) 3 Business Combinations and IFRS 11 Joint Arrangements meet the criteria for adoption set out in Article 3(2) of Regulation (EC) No 1606/2002.