ICAI say that Irish Government and businesses unprepared

The Institue of Chartered Accountants in Ireland (ICAI) have released a paper on the benefits of International financial reporting standards (IFRS), specifically the benefits to Ireland of it, and the consequences of non-adoption.

In September 2003 the European Commission adopted a regulation endorsing certain IFRS, confirming the requirement for their compulsory use from January 1, 2005.