Since 2005, the adoption of International Financial Reporting Standards (IFRS) by public markets in many territories has accelerated significantly. Over 110 countries now require or have permitted IFRS for public reporting purposes. Others including Argentina, Canada, India, Japan, Malaysia, Mexico, South Korea and Taiwan, have already committed to require, or voluntarily permit, adoption of IFRS for publicly accountable entities in 2011 or 2012. The US though continues to delay in its decision making.
Consequently, we have updated our original 2007 report, Attitudes to IFRS, in version 2.0 we speak with CFOs of entities who have more recently adopted IFRS, the majority of whom did so as a consequence of the London-based AIM’s mandatory adoption of IFRS in 2007.
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