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Mexico plans move to IFRSs in 2012

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16 Nov 2008

On 11 November 2008, the Mexican Banking and Securities Commission (Comisión Nacional Bancaria y de Valores, or CNBV) announced that all companies listed on the Mexican Stock Exchange will be required to use IFRSs starting in 2012.

Listed companies will have the option to use IFRSs earlier – even as early as 2008 – subject to requirements that will be established by the CNBV.

Mexican Financial Reporting Standards, developed by the Consejo Mexicano para la Investigación y Desarrollo de Normas de Información Financiera (CINIF), will continue to be required for non-listed Mexican entities. CINIF has stated that it will continue its programme for converging Mexican standards with IFRSs. Click for:

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