The consolidated financial statements of Norsk Hydro ASA and its subsidiaries are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and the disclosure requirements as specified under the Norwegian Accounting Law (Regnskapsloven). All standards applied by Hydro have been endorsed by the European Union (EU) and Norwegian authorities and are effective as of 31 December 2012.
