Gelijkwaardigheid van IFRS met andere GAAP's

CESR ontvangt een mandaat van de EC voor de beoordeling van de gelijkwaardigheid van IFRS met andere GAAP's

Op de website van CERS vindt u de relevante documenten.

Originele persbericht:

CESR BEGINS WORK ON IMPLEMENTING MEASURES TO ESTABLISH EQUIVALENCE BETWEEN THIRD COUNTRIES GAAP AND IAS/IFRS AND LAUNCHES A CALL FOR EVIDENCE

Following receipt of a mandate from the European Commission (Ref: CESR/04-305), CESR has begun its work today to consider the equivalence between certain third countries' GAAP and IAS/IFRS and to this end launches a call for evidence for interested parties to submit comments by 29 July 2004.

Both the Prospectus Regulation and the Transparency Directive state that third country issuers (non-EU issuers), who have their securities admitted to trading on an EU regulated market, or who wish to make a public offer of their securities in Europe, will be required, as from 1st January 2007, to prepare and present the financial statements that they publish on the basis of EU endorsed IAS/IFRS accounting standards, or, on the basis of the third country's national accounting standards if they have been endorsed as equivalent to IAS/IFRS.

In particular, the Prospectus Regulation and Transparency Directive require the European Commission to establish a mechanism and to take the necessary decision as to whether a given third country GAAP is equivalent to IAS/IFRS. For this reason, the European Commission has requested CESR to prepare for it some advice.

The European Commission has requested CESR's advice by 30 June 2005 to allow sufficient time for parties affected by the application of the Prospectus Directive (which will take effect from 1 July 2005) and the Transparency Directive (expected to apply from the Autumn of 2006) to adapt if necessary. A provisional timetable for CESR's work programme is attached.

As a first step in developing CESR's final advice, CESR will publish a concept paper which will establish the principles upon which equivalence could be assessed and the methods and criteria to be used for the technical assessment of equivalence. This concept paper will also be subject to public consultation. CESR will then conduct the technical assessment of the equivalence under the EC mandate, in accordance with the mandate and the principles set out in the concept paper. In line with CESR's public statement of consultation practices (Ref: CESR/01-007c) available on CESR's website, the expert Group may establish an Advisory group, in addition to the usual public consultations.

CESR will also look to the relevant third countries standard setters and regulatory agencies in order to get an appropriate and meaningful understanding of the third country GAAP and their possible equivalence with IAS/IFRS.

The work will be taken forward within CESR by the operational group, CESR-Fin, chaired by John Tiner, Chief Executive Officer of the UK FSA which will prepare, through its two sub-committees on endorsement (SISE) and enforcement (SCE), CESR's advice.