Long way to go for IFRS implementation, says E&Y

Kashflow logo
Share this content

Although more than 8,000 EU companies have successfully implemented international financial reporting standards (IFRS), there is a risk that key information will be obscured by the sheer volume of data now required, new research claims. The conclusion was reached by Ernst & Young (E&Y) during a review of the 2005 financial statements of 65 of the largest companies reporting under IFRS for the financial year ended 31 December 2005. David Lindsell, from E&Y's global IFRS practice, said: "At one level, the fact that everyone has implemented IFRS in a timely manner can be considered a major success, particularly as, for everyone, the transition to IFRS involved significant changes from previous reporting requirements. However, there is a very long way to go in order to improve consistency and...

Please Login or Register to read the full article

The full article is available to registered AccountingWEB.co.uk members only. To read the rest of this article you’ll need to login or register. Registration is FREE and allows you to view all content, ask questions, comment and much more.


Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.