IFRS adoption around the world
The adoption of International Financial Reporting Standards and plans for convergence or harmonisation differ widely by jurisdiction. Find out which countries require or permit companies to apply IFRS and which standards have been endorsed by the EU.
IFRS by country
Who uses IFRS Standards?
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
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.
IFRS adoption and endorsement in the EU
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
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
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.
IFRS and US GAAP
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.
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