IFRS adoption around the world

Who uses IFRS Standards?
IFRS Foundation
Regularly updated information on the use of IFRS by jurisdiction and statistics on IFRS adoption around the world. Jurisdiction profiles show reporting and filing requirements for domestic public companies and listings by foreign companies, the status of IFRS for SMEs, and notes on the relevant jurisdictional authority.

Use of IFRS by jurisdiction
Deloitte
A country-by-country table showing whether domestic listed companies and domestic unlisted companies are permitted or required to use IFRS in their consolidated financial statements for external financial reporting.

Following the UK's exit from the EU, any new IFRSs or amended IFRSs require independent endorsement by the UK Endorsement Board (UKEB) to be part of the suite of UK-adopted IFRS that can be applied by UK companies.

On 19 July 2002 a regulation was passed by the European Parliament and the European Council of Ministers requiring the adoption of IFRS: Regulation (EC)No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards. As a result of the Regulation, all EU listed companies were required to prepare their financial statements following IFRS from 2005.

Useful sources of information

EFRAG endorsement
European Financial Reporting Advisory Group (EFRAG)
Notes and links to the latest Endorsement Status Reports. The reports list all IFRS, amendments to IFRS and IFRS Interpretations that have been endorsed in the EU, along with the dates when they became effective.

IFRS in Europe
Deloitte
Background information about the use of IFRS in Europe with a timeline of developments and updates by year. The page also gives a summary of the endorsement procedure and explains the role of key organisations involved in the process.

EU implementation of IFRS and the Fair Value Directive
ICAEW, October 2007
Report produced by ICAEW at the request of the European Commission which evaluated the application of IFRS across the EU, giving a detailed review of financial statements for 200 companies drawn from across 25 EU member states.

IASB-FASB convergence
Deloitte
Summary of the joint convergence project launched in 2002 by the International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB). It gives a concise summary of the project's background and describes the current status of the project with key milestones.

The ICAEW Library & Information Service provides access to a range of articles in full text from leading business, finance and management journals. This resource is available to ICAEW members, ACA students and other entitled users.

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• View a list of articles and books in our collection on IFRS harmonisation

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You can obtain copies of articles or extracts of books and reports through our document supply service.