IFRS as adopted by the European Union - Deloitte

Brussels IFRS Centre of Excellence
                                                            28 January 2020

IFRS as adopted by the European Union
Below is a list of new and amended standards and interpretations that become effective in
2019 for application in the European Union. In addition, the new and revised standards and
interpretations which have been published but which are not yet applicable in 2019 in the EU
are enclosed as well.

The list is available in English, in Dutch and in French.

The below list is being provided for information and translation purposes only. Since the
information provided is permanently subject to change, please consult the EFRAG website to
get the most recent EU endorsement status.

For more detailed explanations on the changes, refer to our IAS Plus website. The overview
on IAS Plus is updated on a quarterly basis.

Further information is available on IAS Plus:

•   2019 model financial statements issued by Deloitte
•   IFRS 16 — Transition and recurring disclosures using the cumulative catch-up approach

1

IFRS as adopted by the European Union (English)

Standards and interpretations applicable for the annual period beginning on or after
1 January 2019

•     IFRS 16 Leases
•     IFRIC 23 Uncertainty over Income Tax Treatments
•     Amendments to IAS 19 Plan Amendment, Curtailment or Settlement
•     Amendments to IAS 28 Long term interests in Associates and Joint Ventures
•     Amendments to IFRS 9 Prepayment Features with Negative Compensation
•     Annual improvements to IFRS Standards 2015-2017 Cycle

Standards and interpretations published, but not yet applicable for the annual
period beginning on 1 January 2019

•     Amendments to IAS 1 and IAS 8 Definition of Material (applicable for annual periods
      beginning on or after 1 January 2020)
•     Amendments to IFRS 3 Business Combinations (applicable for annual periods beginning on
      or after 1 January 2020, but not yet endorsed in the EU)
•     Amendments to IFRS 9, IAS 39 and IFRS 7 Interest Rate Benchmark Reform (applicable
      for annual periods beginning on or after 1 January 2020)
•     Amendments to references to the Conceptual Framework in IFRS standards (applicable for
      annual periods beginning on or after 1 January 2020)
•     IFRS 17 Insurance Contracts (applicable for annual periods beginning on or after
      1 January 2021 1, but not yet endorsed in the EU)

1
    Exposure Draft 2019/4 of June 2019 proposes to postpone the EU effective date to 1 January 2022.

2

IFRS zoals goedgekeurd binnen de Europese Unie (Nederlands)

Standaarden en interpretaties toepasbaar voor het boekjaar beginnend op of na
1 januari 2019

•     IFRS 16 Leaseovereenkomsten
•     IFRIC 23 Onzekerheid over de fiscale behandeling van inkomsten
•     Aanpassing van IAS 19 Planwijzigingen, inperkingen en afwikkelingen
•     Aanpassing van IAS 28 Lange termijn investeringen in geassocieerde deelnemingen en
      joint ventures
•     Aanpassing van IFRS 9 Kenmerken van vervroegde terugbetaling met negatieve
      compensatie
•     Jaarlijkse verbeteringen aan IFRS 2015-2017 cyclus

Standaarden en interpretaties gepubliceerd, maar nog niet van toepassing voor het
boekjaar beginnend op 1 januari 2019

•     Aanpassingen van IAS 1 en IAS 8 Definitie van materieel (toepasbaar voor boekjaren
      vanaf 1 januari 2020)
•     Aanpassingen van IFRS 3 Bedrijfscombinaties (toepasbaar voor boekjaren vanaf
      1 januari 2020, maar nog niet goedgekeurd binnen de Europese Unie)
•     Aanpassingen aan IFRS 9, IAS 39 en IFRS 7 Hervorming van de Referentierentevoeten
      (toepasbaar voor boekjaren vanaf 1 januari 2020)
•     Aanpassing van de referenties naar het Conceptueel kader in IFRS standaarden
      (toepasbaar voor boekjaren vanaf 1 januari 2020)
•     IFRS 17 Verzekeringscontracten (toepasbaar voor boekjaren vanaf 1 januari 2021 2, maar
      nog niet goedgekeurd binnen de Europese Unie)

2
    Exposure Draft 2019/4 van juni 2019 stelt voor om de effectieve datum in de EU uit te stellen tot 1 januari 2022.

3

IFRS tels qu’adoptés par l’Union européenne (Français)

Normes et interprétations applicables pour la période annuelle ouverte à compter du
1er janvier 2019

•     IFRS 16 Contrats de location
•     IFRIC 23 Incertitude relative aux traitements des impôts sur le résultat
•     Amendements à IAS 19 Modification, réduction ou liquidation d'un régime
•     Amendements à IAS 28 Intérêts à long terme dans des entreprises associées et des
      coentreprises
•     Amendements à IFRS 9 Caractéristiques de remboursement anticipé avec rémunération
      négative
•     Améliorations annuelles des IFRS cycle 2015-2017

Normes et interprétations émises, mais non encore applicables pour la période
annuelle ouverte à compter du 1er janvier 2019

•     Amendements à IAS 1 et IAS 8 Modification de la définition du terme « significatif »
      (applicables pour les périodes annuelles ouvertes à compter du 1er janvier 2020)
•     Amendements à IFRS 3 Regroupements d’entreprises (applicables pour les périodes
      annuelles ouvertes à compter du 1er janvier 2020, mais non encore adoptés au niveau
      européen)
•     Amendements à IFRS 9, IAS 39 et IFRS 7 Réforme des taux d’intérêt de référence
      (applicables pour les périodes annuelles ouvertes à compter du 1er janvier 2020)
•     Amendements des références au Cadre conceptuel de l’information financière dans les
      normes IFRS (applicables pour les périodes annuelles ouvertes à compter du
      1er janvier 2020)
•     IFRS 17 Contrats d’assurance (applicable pour les périodes annuelles ouvertes à compter
      du 1er janvier 2021 3, mais non encore adoptée au niveau européen)

3
    L’exposé sondage 2019/4 de juin 2019 propose de reporter la date d'entrée en vigueur dans l’UE au 1er janvier 2022.

4

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member
firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as
“Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about for a more detailed description of DTTL and its member
firms.

Deloitte provides audit, tax and legal, consulting, and financial advisory services to public and private clients spanning multiple industries. With a
globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients,
delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 286,000 professionals, all
committed to becoming the standard of excellence.

This publication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms, or their related entities
(collectively, the “Deloitte Network”) is, by means of this publication, rendering professional advice or services. Before making any decision or
taking any action that may affect your finances or your business, you should consult a qualified professional adviser. No entity in the Deloitte
Network shall be responsible for any loss whatsoever sustained by any person who relies on this publication.

© January 2020 Deloitte Belgium

5