There may be yet another impact of IFRS that financial directors are not paying enough attention to. According to PricewaterhouseCoopers’ business recovery team, the impact of IFRS from next year on European corporates’ banking covenants is being widely ignored.
When compliance with IFRS becomes compulsory for European listed companies from January next year, many will face increased volatility in their accounts ? something that has already been stressed as regards hedge accounting and communication with shareholders.
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