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Profiles on the use of IFRS Standards (What the profiles show (Commitment…
Profiles on the use of IFRS Standards
Content of each profile
Survey participant details
Public commitment to global accounting standards and IFRS Standards
Extent of application of IFRS Standards by for-profit entities
Which companies?
Listed only, unlisted too or only unlisted financial institutions?
Required or permitted?
Consolidated financial statements only or also separate company statements?
Endorsement of IFRS Standard
Process
Legal authority
Wording of the auditor’s report
Did the jurisdiction eliminate options?
Make modifications?
Process for translation of IFRS Standards
Adoption of the IFRS for SMEs Standard
What the profiles show
Commitment to a single set of global accounting standards
Commitment to IFRS Standards
Adoption of IFRS Standards
Which companies are required or permitted to use IFRS Standards?
Few modifications
Auditor’s report
Adoption of the IFRS for SMEs Standard
How many jurisdictions have adopted the IFRS for SMEs Standard?
Which jurisdictions have adopted the IFRS for SMEs Standard?
Is the IFRS for SMEs Standard required or permitted?
Modifications of the IFRS for SMEsStandard
IFRS Standards provide the financial information for
capital markets covering over half of the world’s GDP