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World Global adoption of IFRS

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International Financial Reporting Standards (IFRS) are designed to create a single set of high-quality financial reporting standards.

This initiative is intended to provide a central source of information that permits interested parties to chart jurisdictional progress towards the achievement of that goal.

The graphic uses lights to show the progress globally.

CountryStatusVersion
CanadaRequired for listed companies from 1 January 2011IFRS as published by IASB
MexicoRequired for adoption from 31 December 2012IFRS as published by IASB
USAIFRS is not required for listed companiesN/A
BrazilSince 2010 required for listed companies prepared in accordance with both IFRS and CPC (new Brazilian GAAP)IFRS as published by IASB
FranceRequired for consolidated financial statements since 2005IFRS as adopted by the EU
GermanyRequired for consolidated financial statements since 2005IFRS as adopted by the EU
UKRequired for consolidated financial statements since 2005IFRS as adopted by the EU
ItalyRequired for consolidated financial statements since 2005IFRS as adopted by the EU
RussiaRequired for consolidated financial statements of listed companies and standalone statements of listed companies with no subsidiariesIFRS as published by IASB
ChinaNone, however CAS (Chinese Accounting Standards) have substantively converged with IFRS. However, it is not a direct translation of IFRS, rather the principles of IFRS are re-written into a format that is easily understandable to the Chinese readerN/A
IndiaListed companies have a choice between Indian GAAP or IFRSIRFS as published by IASB
JapanPermitted from 2010 for a number of international companies 
South AfricaRequired for listed entities since 2005IRFS as published by IASB
AustraliaRequired for all private sector reporting entities and as the basis for public sector since 2005IFRS as adopted locally
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