How large is the adoption of IFRS around the world?
Over 12,000 companies in roughly 113 nations have adopted IFRS. An estimated 150 countries will require or accept IFRS within the next few years. Canada and India are anticipating the transition by 2011 and Mexico is planning to adopt for all listed companies by 2012. The U.S. Securities and Exchange Commission (SEC) has created a “roadmap” for adoption of IFRS in the U.S. This roadmap allows for early adoption of IFRS by select filers in 2009. Then in 2011, the SEC will give a final decision as to the next steps toward adoption. The roadmap suggests that adoption will be required for large, accelerated filers for reporting year 2014, accelerated filers for reporting year 2015, and non-accelerated filers by 2016.
