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IFRS implementation review panel formed in Netherlands

Feb 16, 2007

The Netherlands Authority for Financial Markets (Autoriteit Financiele Markten or AFM) has formed a Financial Reporting Committee of 12 external IFRS experts to advise the Authority on the application of IFRSs and the supervision thereof.

Click for AFM's Press Release (PDF 15k). The AFM is responsible for supervising the financial reporting of Dutch listed companies. They have announced that their 2007 reviews of the 2006 financial reporting will focus on the application of IAS 12 Income Taxes and IAS 7 Cash Flow Statements. Click for Letter Sent to Listed Companies (PDF 283k) setting out the results of AFM's review of 2005 reports and example questions for 2006.