On which accounting standards are the consolidated financial statements of the Bayer Group based?
The consolidated financial statements of the Bayer Group as of December 31, 2008 have been prepared pursuant to Article 315a of the German Commercial Code according to the International Financial Reporting Standards (IFRS) of the International Accounting Standards Board (IASB), London, and the interpretations of the International Financial Reporting Interpretations Committee (IFRIC), which are endorsed by the European Union, in effect at the closing date.
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