Wiley IFRS Practical Implementation Guide and Workbook Second Edition
A one-stop resource for understanding and applying current International Financial Reporting Standards
The year 2007 proved to be yet another historic year of watershed events for the International Financial Reporting Standards (IFRS) firstly, due to the announcement in November 2007 by the US SEC to allow foreign private issuers to enter the US capital market using IFRS-compliant financial statements without reconciling to US GAAP and secondly, on its achieving extraordinary acceptance globally with over 100 countries requiring or permitting IFRS by the end of 2007, a remarkable achievement in terms of global acceptance of IFRS. Commenting on how many more countries are expected to adopt IFRS by 2011, Sir David Tweedie, chairman of the IASB, remarked, "we reckon by about 2011, there'll be 150—all the major economies." (Accountancy, January 2008)

 

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