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IFRS will affect you, ICAEW tells small companies

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04 Oct 2003

Many smaller companies may be assuming wrongly that International Financial Reporting Standards will not affect them, the Institute of Chartered Accountants in England & Wales has warned.

Although IFRS will be optional, rather than mandatory, for unlisted UK companies, the UK's Accounting Standards Board intends to converge UK GAAP with IFRS. These revised UK standards will apply to all UK companies, whether large or small. Click for ICAEW Press Release (PDF 52k).

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