(3)Regulation (EC) No 1606/2002 of the European Parliament and of the Council 2 requires companies governed by the law of a Member State whose securities are admitted to trading on a regulated market in any Member State to prepare their consolidated financial statements in accordance with International Accounting Standards, which are commonly referred to as International Financial Reporting Standards (‘IFRS’), adopted pursuant to Regulation (EC) No 1606/2002. Commission Decision 2008/961/EC 3 provides that a third country issuer listed in the Union may also prepare its consolidated financial statements in accordance with IFRS as issued by the International Accounting Standards Board (‘IASB’).
Recital 3
- 2 Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards ( OJ L 243, 11.9.2002, p. 1 ). ↩
- 3 Commission Decision 2008/962/EC of 12 December 2008 on the use by third countries’ issuers of securities of certain third country’s national accounting standards and International Financial Reporting Standards to prepare their consolidated financial statements ( OJ L 340, 19.12.2008, p. 112 ). ↩