Mexico plans move to IFRSs in 2012
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:
- CNBV Press Release (PDF 39k, in Spanish).
- CNBV Press Release (PDF 70k, in English).
- CINIF Press Release (PDF 35k, in Spanish).
