European Commission 29 December 2004, Commission Regulation (EC) No 2238/2004 of 29 December 2004 amending Regulation (EC) No 1725/2003 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council, as regards IASs IFRS 1, IASs Nos 1 to 10, 12 to 17, 19 to 24, 27 to 38, 40 and 41 and SIC Nos 1 to 7, 11 to 14, 18 to 27 and 30 to 33Text with EEA relevance

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Commission Regulation (EC) No 2238/2004 of 29 December 2004 amends Regulation (EC) No 1725/2003 to adopt revised International Accounting Standards (IASs Nos 1, 2, 8, 10, 16, 17, 21, 24, 27, 28, 31, 33, and 40) and to delete IAS 15 and specified SIC interpretations, pursuant to Regulation (EC) No 1606/2002 on the application of international accounting standards. The revised standards, forming part of the IASB's improvement project, aim to reduce alternatives, redundancies, and conflicts within existing IASs, and their adoption entails consequential amendments to numerous other standards and interpretations to ensure consistency across the body of IFRSs. The Regulation entered into force on the third day following its publication in the Official Journal of the European Union and applies from 1 January 2005 at the latest, being binding in its entirety and directly applicable in all Member States.AI