Majority of European investment funds do not use IFRS

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EUROPE - The vast majority of European investment funds are not using the International Financial Reporting Standards (IFRS) in their accounting and reporting, a survey by Ernst & Young revealed.

Findings showed only a fifth of fund managers and administrators surveyed who currently have the option to apply IFR, did so. A further 22% are using a combination of IFRS and other accounting s...

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