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Euronext publishes new IFRS rules

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16 Apr 2003

The Euronext market has published a new version of its Rulebook (PDF 147k). The 151 companies listed on the Nextprime segment and the 116 companies listed on the Nexteconomy segment must comply with International Financial Reporting Standards earlier than companies (approximately 1,200 in number) quoted on the other market segments.

In summary (see pages 2 and 55 to 58 for details):
  • From financial years beginning on or after 1 January 2004, companies on the Nextprime and Nexteconomy segments must publish quarterly reports.
  • In the second quarterly report for the financial year beginning on or after 1 January 2004, the company must publish a note describing the relevant effects of switching to IFRS on a later date on the IFRS opening balance sheet and the income of the current period. This information should be updated in subsequent quarters as needed. This only applies to entities that have not already published their latest annual consolidated financial statements in accordance with IFRS.
  • Auditors must perform a limited review on the second quarter report.

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