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IASB member writes about the use of IFRSs around the world

  • IASB (International Accounting Standards Board) (blue) Image

27 Feb 2015

IASB member Philippe Danjou has written an article for 'Finance & Gestion' analysing the use of IFRS around the world.

Based on the jurisdiction profiles the IFRS Foundation has compiled, the article describes developments in the adoption of IFRSs since the European Union adopted IFRSs in 2005. Mr Danjou writes about the many jurisdictions that have adopted IFRSs since then as well as about the jurisdictions that haven't  - among them China and the United States. He lists three lessons that are to be learned from this anlysis:

  • IFRSs now play a preeminent role throughout the world - the majority of jurisdictions have made a commitment to IFRSs and the jurisdictions that apply them represent more than half of the world's wealth.
  • The European Union continues to be a major user of IFRSs but it is no longer the dominant one.
  • IFRSs are applied by 52 per cent of the Fortune 500 companies; US GAAP is applied by 29 per cent of these companies.

Please click to access Mr Danjou's article (English translation) on the IASB website. It is also available in the original version (French).

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