Vienna stock exchange requires IFRS reporting

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29 Apr 2003

Previously, the Vienna stock exchange required all domestic and foreign companies listed on the A-Market and the Austrian Growth Market (AGM) to submit consolidated financial statements under either IFRS or US GAAP.

In their 2002 financial statements, nearly all listed Austrian companies have used IFRS. Only a few are using US GAAP. Starting in 2005, all listed European companies, including Austrian companies, will be required to use IFRS.

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