BASDA to test software for IFRS compliance

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BASDA, the UK business software trade body, is preparing to launch an accreditation scheme for software that can cope with International Financial Reporting Standards (IFRS).

Due to kick into action in April, after the next tranche of IFRSs is released, the scheme should be handing out accreditation by the time the international reporting regime becomes mandatory for listed European companies in January 2005.

According to BASDA chief executive Dennis Keeling (pictured right), assessing IFRS compliance is the first step in developing a three-prong financial software accreditation scheme that will encompass accounting standards, tax reporting and corporate governa...

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