{
  "url": "https://openlegislation.uk/eu-regulation-2007-610/introduction",
  "json_url": "https://openlegislation.uk/eu-regulation-2007-610/introduction.json",
  "legislation": "eur/2007/610",
  "legislation_title": "Commission Regulation (EC) No 610/2007 of 1 June 2007 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 International Financial Reporting Interpretations Committee’s (IFRIC) Interpretation 10 (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2007-610",
  "path": "introduction",
  "kind": "introduction",
  "number": null,
  "heading": "Introductory text",
  "text": "Commission Regulation (EC) No 610/2007\nof 1 June 2007\namending 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 International Financial Reporting Interpretations Committee’s (IFRIC) Interpretation 10\n(Text with EEA relevance)\nTHE COMMISSION OF THE EUROPEAN COMMUNITIES,\nHaving regard to the Treaty establishing the European Community,\nHaving regard to Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards, and in particular Article 3(1) thereof,\nWhereas:\n(1)\nBy Commission Regulation (EC) No 1725/2003 certain international standards and interpretations that were extant at 14 September 2002 were adopted.\n(2)\nOn 20 July 2006, the International Financial Reporting Interpretations Committee (IFRIC) published IFRIC Interpretation 10 Interim Financial Reporting and Impairment, hereinafter ‘IFRIC 10’. IFRIC 10 clarifies that impairment losses on goodwill and certain financial assets (‘available for sale’ equity investments and unquoted equity instruments measured at cost) that are recognised in an interim financial statement must not be reversed in subsequent interim or annual financial statements. The interpretation was required due to an apparent conflict between the requirements of International Accounting Standard (IAS) 34 Interim Financial Reporting and those in IAS 36 Impairment of assets, and the impairment provisions related to certain financial assets in IAS 39 Financial instruments: Recognition and measurement.\n(3)\nThe consultation with the Technical Expert Group (TEG) of the European Financial Reporting Advisory Group (EFRAG) confirms that IFRIC 10 meets the technical criteria for adoption set out in Article 3(2) of Regulation (EC) No 1606/2002.\n(4)\nRegulation (EC) No 1725/2003 should therefore be amended accordingly.\n(5)\nThe measures provided for in this Regulation are in accordance with the opinion of the Accounting Regulatory Committee,\nHAS ADOPTED THIS REGULATION:",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "OJ L 243, 11.9.2002, p. 1."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "OJ L 261, 13.10.2003, p. 1. Regulation as last amended by Regulation (EC) No 1329/2006 (OJ L 247, 9.9.2006, p. 3)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2007/610/introduction",
    "retrieved_at": "2026-11-01T14:52:55.410258+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}