ICAEW.com works better with JavaScript enabled.

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?
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.

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

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.

IFRS and US GAAP

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.

Online articles

The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

Articles and books in the Library collection

To find out how you can borrow books from the Library please see our guide to book loans. You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

Can't find what you are looking for?

If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by web chat or by email at library@icaew.com.

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

* Some of the content on this web page was provided by the Chartered Accountants’ Trust for Education and Research, a registered charity, which owns the library and operates it for ICAEW.