21.11.2013 Official Journal of the European Union L 312/1 (Non-legislative acts) REGULATIONS COMMISSION REGULATION (EU) No 1174/2013 of 20 November 2013 amending Regulation (EC) No 1126/2008 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 Standards 10 and 12 and International Accounting Standard 27 (Text with EEA relevance) THE EUROPEAN COMMISSION, Having regard to the Treaty on the Functioning of the European Union, Having regard to Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of the international accounting standards (), and in particular Article 3(1) thereof, Whereas: (1) By Commission Regulation (EC) No 1126/2008 (?) certain international standards and interpretations that were in existence at 15 October 2008 were adopted. (20 In October 2012, the International Accounting Standards Board (IASB) published amendments to International Financial Reporting Standard (IFRS) 10 Consolidated Financial Statements, IFRS 12 Disclosure of Interests in Other Entities and International Accounting Standard (IAS) 27 Separate Financial Statements. IFRS 10 has been amended in order to better reflect the business model of investment entities. It requires that investment entities measure their subsidiaries at fair value through profit or loss account rather than consolidate them. IFRS 12 has been amended in order to require specific disclosure about such subsidiaries of investment entities. The amendments to IAS 27 also removed the option for investment entities to measure investments in certain subsidiaries either at cost or at fair value in their separate financial statements. Amendments to IFRS 10, [FRS 12 and IAS 27 imply by way of consequence amendments to IFRS 1, IFRS 3, IFRS 7, IAS 7, IAS 12, IAS 24, IAS 32, IAS 34 and IAS 39 in order to ensure consistency between international accounting standards. () O] L 243, 11.9.2002, p. 1. () O] L 320, 29.11.2008, p. 1. (3)  The amendments to IFRS 10, IAS 27 and certain consequential amendments to other standards contain references to IFRS 9 Financial Instruments that at present cannot be applied as IFRS 9 has not been adopted by the Union. Therefore, any reference to IFRS 9 as laid down in the Annex to this Regulation should be read as a reference to IAS 39. () The consultation with the Technical Expert Group of the European Financial Reporting Advisory Group confirms that the amendments to IFRS 10, IFRS 12 and IAS 27 meet the technical criteria for adoption set out in Article 3(2) of Regulation (EC) No 1606/2002. (5)  Regulation (EC) No 1126/2008 should therefore be amended accordingly. (6)  The measures provided for in this Regulation are in accordance with the opinion of the Accounting Regu- latory Committee, HAS ADOPTED THIS REGULATION: Article 1 1. The Annex to Regulation (EC) No 1126/2008 is amended as follows: (a) International Financial Reporting Standard (IFRS) 10 Consolidated Financial Statements is amended as set out in the Annex to this Regulation; (b) TFRS 12 Disclosure of Interests in Other Entities is amended as set out in the Annex to this Regulation;