Wednesday, June 28, 2006
Usefulness of IFRS in Europe
A new PwC survey of UK fund managers offers a rare & differentiated, therefore highly relevant glimpse of the usefulness to users (i.e. investors) of the first wave of European financial statements that are prepared under mandatory application of IFRS. The survey looks at diverse issues like the usefulness of IFRS vs. UK and US GAAP, support for fair value, the impact of the IFRS angle on investment decision making etc and displays the change of such perceptions over the recent past. I hope this survey will be continued in the future and will be extended to other European countries!