Friday, July 25, 2008

IFRS in Argentina

Deloitte recently reported on the coming adoption of IFRS in Argentina.

According to Deloitte:

The Federacion Argentina de Consejos Profesionales de Ciencias Economicas (professional accountancy body in Argentina) has developed a plan for implementing IFRSs for all companies whose securities are publicly traded. The plan has been presented to the Argentinian Securities Commission, which would have to approve the plan. The plan calls for adoption of IFRSs in annual financial statements of public companies by first quarter 2011. Starting first
quarter 2010, companies would have to disclose the expected impact of IFRSs on their operating results and equity.

(From the Deloitte IAS Plus July 2008 Newsletter).

The Argentinian plan is covered in the following document (in Spanish)

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