Research

Mixed response to IFRS

While some companies now have a more favourable view of international financial reporting standards (IFRS), scepticism remains about the overall benefit of the new accounting rules, a survey by PricewaterhouseCoopers (PwC) has found.

The research revealed finance directors are getting used to IFRS, with 42% feeling more positive about them than they did in 2006. What is more, in comparison with last year 79% of finance executives feel more confident reporting their results.

However, only 22% of respondents believe IFRS has resulted in an overall benefit for their companies. Over half of respondents (58%) do not think investors have a good understanding of IFRS and the financial information presented.

July 2007