IFRS are now mandatory in all member states of the economic and political organization known as the European Union.

Name: IFRS are now mandatory in all member states of the economic and political organization known as the European Union.
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Quizplus · Accepted Answer

This statement is true. Since January 1, 2005, all EU listed companies have been required to prepare their consolidated financial statements in accordance with IFRS. Additionally, many non-listed EU companies also choose to use IFRS voluntarily.

IFRS Are Now Mandatory in All Member States of the Economic