Australian companies slow to begin implementing IFRSs

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17 Jul 2004

A survey of 122 Australian corporate entities conducted by the Institute of Chartered Accountants in Australia (ICAA) has found that less than half of those surveyed (49%) have begun the process for implementing International Financial Reporting Standards (IFRSs).

61% believe that IFRSs will assist Australian companies in general, while only 40% feel that IFRSs will assist their own business. Click for (PDF 19k). As noted in the story immediately below this one, IFRSs as of 31 March 2004 are now Australian GAAP and go into effect in 2005.

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