Updated survey on extended use of IFRSs in European Union

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06 Mar 2008

Since 2005, the European Union Accounting Regulation has required that European companies listed in a European securities market must use IFRSs to prepare their consolidated financial statements.

The Regulation gave EU member states the options to:
  • Require or permit IFRSs for unlisted companies
  • Require or permit IFRSs in parent company (unconsolidated) financial statements
  • Permit companies whose only listed securities are debt securities to delay IFRS adoption until 2007
  • Permit companies that are listed on exchanges outside of the EU and that currently prepare their primary financial statements using a non-EU GAAP (in most cases this would be US GAAP) to delay IFRS adoption until 2007.
The European Commission has updated its earlier surveys of EU and EEA member states concerning their decisions regarding the four options above. Click to download the results of the updated survey: Table on Use of IFRS Options 30 EU Member and EEA States (PDF 52k)


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