EU begins assessment of IFRS implementation in 2006

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25 Apr 2008

The European Commission has engaged a French consulting firm to study the implementation of IFRSs in Europe in 2006. This study is a follow-up to a Review of First-year Implementation of IFRSs in the EU that was done by the Institute of Chartered Accountants in England and Wales on behalf of the Commission.

That study included a detailed review of the 2005 financial statements of 200 listed companies and 18 unlisted companies from 25 EU member states. The 2006 study will similarly focus on the consolidated accounts of listed companies but will also include some unlisted companies and individual accounts. The final report is due by the end of 2008. The project is described in the Minutes of 10 March 2008 ARC Meeting (PDF 157k).


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