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TRANSITION WITHOUT TEARS: A FIVE-POINT PLAN FOR IFRS DISCLOSURE FROM STANDARD & POOR'S RATINGS SERVICES

    https://doi.org/10.1142/S0219868105000355Cited by:2 (Source: Crossref)

    Preparing for the imminent arrival of International Financial Reporting Standards (IFRS) is proving to be challenging for many European companies for which IFRS takes effect in 2005. Not least among these challenges are that reporting requirements are substantial and time to prepare is running short. Transition to the new standards will bring further demands as market participants familiarize themselves with the revised financial reporting. Specifically, companies will need to pay particular attention to how they communicate their financial restatements. If market participants are not provided with clear information, the capital markets could face potential disruption if investors and analysts adopt overly conservative positions until greater clarity is obtained.