EU Parliament committee discusses endorsement of IFRS 8
12 Sep 2007
In a presentation to the Committee on Economic and Monetary Affairs of the European Parliament, Charlie McCreevy, the European Commissioner for Internal Market and Services, discussed the endorsement of IFRS 8 Operating Segments for use in the European Union.
- EC Report on Endorsement of IFRS 8 (PDF 200k)
- Commissioner McCreevy's Remarks to the Parliament Committee (PDF 70k)
I am therefore pleased to present our 'Analysis of Potential Effects' on the introduction of IFRS 8 in the EU. Our report is based on a wide-ranging consultation to which more than 200 organisations replied. It focuses on the issues discussed in ECON last April. The report concludes that adoption of IFRS 8 would have positive cost-benefit effects. This is in line with the clear majority of answers to our consultations and with most views expressed in discussions with stakeholders. In particular, the report concludes that:
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