IFRS – International Financial Reporting Standards

Overview                                                                                                                                                     

The growing global acceptance of IFRS as a basis for the preparation of financial statements of large and medium sized entities creates a need for an increasing group of professionals to gain knowledge and experience of these standards.

Even those with a basic understanding of IFRS are required to constantly update their knowledge because of the fast evolution of these standards and the growing experience that practitioners require. As of 2005 approximately 9000 listed European companies transferred to IFRS reporting. Russia, China, Canada, Japan, Australia, India, South Korea, Malaysia and many other countries are adopting IFRS or have plans to converge their national standards with IFRS.