This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IASB member speaks about 'Financial Reporting and Financial Markets'

  • IASB speeches (blue) Image

22 Apr 2015

At a conference in Madrid, Spain, IASB member Philippe Danjou gave a speech offering an inventory of IFRS adoption around the world and looked at trends and mega-trends in financial reporting.

Mr Danjou split his speech into three parts. He began by looking at the mega-trends that shape the IASB's technical work. Globalisation, currency changes, high leverage and asset valuation problems, low interest rates, diversification, and key performance indicators, non-GAAP figures and disclosure overload were the trends he identified.

Mr Danjou then turned to the adoption of IFRSs around the world. He offered a general overview as well as more detailed analyses of several jurisdictions including Japan, China, India and the United States.

Finally, Mr Danjou turned to the question of whether the adoption of IFRSs in the European Union brought the expected benefits. His analysis was based mainly on the responses to the European Commission's public consultation on the impact of  IFRS in the European Union. He concluded:

I am confident that IFRS has delivered most of the benefits that were expected and that the initial costs of learning and implementing the system, while they have not been capitalised on the balance sheets of companies and investors, would not need to be written off if they had been.

Please click to access the full text of the speech on the IASB website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.