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May 31, 2005

Stumbling on standards

Europe's 'soft' launch of IFRS shows some companies and analysts need to be better prepared than others.

Ever since investors first diversified their investments across borders, common accounting standards have been something of a Holy Grail: greatly desired, but seemingly out of reach. International financial reporting standards (IFRS), introduced to the EU on January 1 this year, are intended to provide the accounting transparency investors yearn for and facilitate the comparison of financial performance across sectors, industries and nations.‘The aim is to improve the overall quality

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