International Financial Reporting Standards (IFRS)

The member countries of the European Union and a number of others adhered to the international accounting rules in 2005, when they were implemented. In Brazil, the conversion process of the consolidated financial statements to IFRS’ standards will happen in 2010, with the possibility of having its implementation advanced, and should be presented in a comparative manner with the prior year.

Therefore, IFRS represent nowadays the ultimate modern accounting rules and they are broadly promoted in the main world markets.

As a result of the recent changes that have occurred and aiming to assist you in the identification of the IFRS that are related to your activities, KPMG in Brazil will assist you in the conversion process.

Articles:

• 3rd edition - IFRS insert in Valor Econômico (Business newspaper)
  Take a look at the 3rd. issue of the IFRS special insert, published in Valor Econômico (Brazilian business newspaper) of December 15, that brings updated information on the modifications performed, and also those planned to be performed, by ISAB and SEC, which will have effects on companies in Brazil with respect to the implementation of IFRS.

• 2nd edition - IFRS insert in Valor Econômico (Business newspaper)
  Insert published in Valor Econômico newspaper, 2008, August 26's

• IFRS insert in Valor Econômico (Business newspaper)
  Insert published in Valor Econômico newspaper, 2008, November 19

• IFRS Today - 2nd Edition - July/August 2008

• IFRS Today - 1st Edition - March/April 2008

• Brazil and the International Financial Reporting Standards (IFRS) - Questions and Answers

• IFRS - Converging into a Global Standard
  Challenges and Opportunities

• Conversion to IFRS

IFRS in Brief/ Briefing Sheets

The growing demand for specialized and reliable information on standards of international accounting rules made KPMG International launch a service for the clients of its member companies to be always updated on the most recent news on IFRS.

The service is offered through electronic means (KPMG’s Global IFRS Institute), and its main objective is to assist companies and clients face the challenges involved in the adoption of the IFRS.

The publications provided are produced by KPMG’s professionals who work in a number of countries and have a long experience in the implementation of new accounting practices in companies in various sectors of the economy. In this Web site, technical knowledge is transformed into clear information, with no loss to depth or focus on the topic in question.

IFRS in Brief is an informative service that contains the summaries of the new rules and constructions, comments on IASB’s and IFRIC’s meetings and KPMG’s points of view on particular issues. In addition, this publication is supplemented by IFRS Briefing Sheets, which talks about requirements and specific issues in a deeper way.

To know our publications visit us at KPMG’s Global IFRS Institute fill out the form and get free access for 15 days. After this period there will be the option of accessing only the free services or to subscribe the other available services.

For further information please send us an e-mail to: ifrs@kpmg.com.br