Survey: Businesses prepare for IFRS

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Approximately 33% of Hungarian businesses surveyed initiated preparations for the International Financial Reporting Standards (IFRS) system, while 55% have already assigned the appropriate individuals to the task, EY said today based on a representative survey it conducted.

The survey revealed that 59% of the respondents would be interested in learning more about the new IFRS system, while some 69% of companies surveyed claimed that they have sufficient employees.

“The results of the survey revealed that domestic businesses recognize that IFRS could affect a number of business functions, including accounting, IT, tax and business procedures,” said Zsuzsanna Bartha, partner at EY. 

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