26 Jan 2004

A survey of 425 companies (249 listed and 176 non-listed) in 6 European countries by the French-based international auditing and advisory firm Mazars has found that: --> The great majority of listed companies are confident that adopting IFRS will bring about "beneficial impacts" on the transparency (73% of listed companies) and reliability (79% of listed companies) of their financial statements. Listed companies believe that the largest impact of the change to IFRS will be on their internal organisation, with 57% of listed companies foreseeing "a real opportunity to improve their internal organisation". The majority (55%) of non-listed companies wish to apply IFRS, and 64% of those think that improved comparability and transparency will result from the change. Many companies are late in setting up IFRS implementation programmes, measuring the impact of IFRS, training of employees, and developing external communications strategies for financial analysts, shareholders, and investors. --> Click for link to Download the Study. .