Over the last year or so there has been widespread debate about IFRS (International Financial Reporting Standards) replacing US GAAP (Generally Accepted Accounting Principles), but how close are we and what does it really mean? Are we really about to see a single worldwide accounting standard applied in every major market?
IFRS - One world, one standard – almost a reality?
• Taxes comprise 59% of petrol fuel cost in Europe, compared to 50% of global average
• European tax rates higher than other major economies including USA and Japan
We welcome, GEWORD, our new member firm in Georgia, to the global accountancy network UHY, extending our coverage within the EMEA region.