Change in effective date of restructured IFRS 1

At its December 2008 meeting the Board decided to change the effective date of revised IFRS 1 First-time Adoption of International Financial Reporting Standards (published in November 2008) from 1 January 2009 to 1 July 2009.

The amendment corrects a potential technical problem arising from the interaction of IFRS 1 and the revised IFRS 3 Business Combinations and amended IAS 27 Consolidated and Separate Financial Statements, both published in January 2008.

The amendment does not affect the application of IFRS 1 by first-time adopters. The change in the effective date will be reflected in the electronic version of IFRS 1 (published in November 2008) included in eIFRS and in the 2009 Bound Volume of IFRSs.