Europe's listed companies want the freedom to use global standards for their group financial reporting. For the vast majority, this will involve a significant change from their current practices.
Financial information is now more widely available than ever before.
Most listed companies already publish data on the Internet. Investors can today use electronic media to access and analyse that information for investment decisions. However, because almost all the world's governments require companies to follow unique national rules, the base financial data that is now more widely available than ever before cannot be used directly for valid international comparisons. PricewaterhouseCoopers supports the use of global accounting standards. Regarding Luxembourg, business experiences of working with IAS is mainly limited to subsidiaries of group that uses IAS for group reporting purposes.