1. Executive Roundtable: The impact of IFRS on the Banking industry Bangkok , 21 April 2009 European view on IFRS Roger Kaiser European Banking Federation
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3. Lisbon European Council 23 and 24 March 2000 Communication of the European Commission “EU Financial Reporting Strategy : the way forward Regulation (EC) No 1606/2002 of the European Parliament and the Council on the application of international accounting standards 23 March 2000 13 June 2000 19 July 2002 The EU strategy towards a single set of accounting rules
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5. listed companies unlisted companies consolidated accounts individual accounts IAS/IFRS required individual accounts IAS/IFRS permitted (faculty for member states) Regulation (EC) No 1606/2002 The EU strategy towards a single set of accounting rules consolidated accounts Directive 2003/51/EC Modernisation and updating of accounting rules
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7. IASB IFRIC EFRAG technical level ARC political level Endorsement procedure EUROPEAN PARLIAMENT MEMBER STATES transposition EUROPEAN COMMISSION Regulations The EU endorsement procedure for IFRS SARG Monitoring Board
8. IASB approval EFRAG technical advice ARC political opinion EU Parliament review 2 mounths 3 weeks Commission translations SARG independent advice The EU endorsement procedure for IFRS 3 weeks 2 months 1 months