By: María Candelas
For some years now, financial information has undergone a number of changes in an effort to bring Mexican accounting standards into line with international practice. The process of creating a more transparent, objective and reliable set of standards that are useful for those who prepare and use financial information will take several years more, and standards must be constantly adapted to the new ways of doing business in the world.
By Annapaola Llanas Mejía y Jesús Rodolfo Jiménez Andrade
Grupo Modelo: Analysis of the effects of transition to IFRS in 2012
Director of Center of Accounting Studies
spmina@itam.mx
As most of us know, since 2012, publicly-traded companies in Mexico have been required to present their financial information in accordance with International Financial Reporting Standards (IFRS). This obligation was imposed by the National Banking and Securities Commission (CNBV) in its Press Bulletin number 56/2008, issued and published on November 11, 2008.
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