Cautious start for international standards

The introduction of International Financial Reporting Standards (IFRS) will inevitably create some confusion. But private companies could do worse than grasping the nettle and adopting them in the short to mid-term, according to a PricewaterhouseCoopers technical partner.

For accounting periods beginning on/after 1 January 2005, the new standards are now obligatory for most of Europe's 7,000+ listed companies.

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