The Commission Regulation (EU) No 2015/2343 of 15 December 2015, published in the Official Journal of the European Union L 330 on 16 December 2015, adopts Annual Improvements to International Financial Reporting Standards 2012-2014 Cycle, in the framework of its regular improvement process which aims at streamlining and clarifying the standards.

Each company shall apply the amendments, at the latest, as from the commencement date of its first financial year starting on or after 1 January 2016.