Ecuador will phase in IFRSs starting 2010

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18 Feb 2009

Pursuant to Resolution No. 08.G.DSC (PDF 67k) issued by the Superintendent of Companies, Ecuador will require IFRSs for all companies, phased in as follows:

  • Starting 1 January 2010: All companies subject to the regulations of the stock market and all external auditors.
  • Starting 1 January 2011: All companies with assets greater than US$ 4,000,000 at 31 December 2007; holding companies and consolidated groups; state-owned entities; and foreign-invested entities.
  • Starting 1 January 2012: All other companies.
These dates replace a requirement, adopted in 2007, for all companies to begin using IFRSs in 2008. Click for our Ecuador country page.

Click to view Resolution No. 08.G.DSC (PDF 67k).

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