Update on Bulgaria and Slovak Republic
21 Mar 2006
An accounting update for Bulgaria and Slovak Republic.
In Bulgaria, since 2003, all listed companies and financial institutions have been required to use IFRSs for their consolidated financial statements. Starting in 2005, IFRSs have been extended also to individual company financial statements and to large unlisted companies. Small companies are permitted but not required to use IFRSs.
In the Slovak Republic, listed companies must use IFRSs for their consolidated financial statements under the EU Accounting Regulation. Starting in 2006, the IFRS requirement has been extended to large unlisted companies.
