International Financial Reporting Standards , IFRS (skrót)

International financial reporting standards have been mentioned, as have broker-dealer agreements.

International financial reporting standards are now being used or are being adopted in more than a hundred countries, including Australia, South Africa and others.

Note: Since April 1, 2001 the International Accounting Standards Board has been working on developing new international financial reporting standards.

Where a company prepares its accounts under International Financial Reporting Standards, it will use profits computed on that basis instead from 2005 onwards, subject to specific statute or case law to the contrary.

The U.S. Securities and Exchange Commission continues to explore whether to incorporate international financial reporting standards (IFRS) into the U.S. financial reporting system.

By strengthening the European Financial Reporting Advisory Group we will provide stronger advice for the European Union when international financial reporting standards are being developed by the International Accounting Standards Board.

The year-end audit is often performed in accordance with either US generally accepted accounting principles (US GAAP) or international financial reporting standards (IFRS), depending on where the fund is established.

The main concern of the FCSM is "improving corporate governance of Russian companies, promoting their transition to international financial reporting standards, development of the institution of collective investment, particularly mutual funds, tax optimization, investors and market participants".

On Mr Blair’s desk in Downing Street, there is a letter recommending that the UK Government set a time limit to complete the basic reform of the EU’s accounting procedures so that they comply fully with international financial reporting standards.

Generally Accepted Accounting Principles (GAAP) vary from International Financial Reporting Standards in that under GAAP rules, dividends received from a company's investing activities is reported as an "operating activity," not an "investing activity."