Firms sceptical over IFRS rules

ONLY 27% of Irish and British companies think the new International Financial Reporting Standards (IFRS) accounting regime will make accounts more transparent, according to a new survey from accounting firm Mazars.

Half of the 550 companies surveyed across Europe said reported profits would be more volatile.

Mazars partner Bernard Marron said: “There are many interesting findings in this survey - most notably the fact that while most European companies say they are ready for IFRS, they remain unconvinced of its merits.”