A Little over 50% of domestic listed companies on the 85 major securities exchanges in the world use IFRS, according to the latest figures released by the IFRS Foundation.
The IFRS Foundation has released figures on the status of IFRS adoption, for the first time based on information from various securities exchanges.
The information comes from statistics published by the World Federation of Exchanges (WFE) and the Federation of European and the Asian Stock Exchanges (FEAS). Combined the securities exchanges that are part of the WFE and the FEAS count 50,356 listed companies.
The IFRS Foundation’s figures reveal that from a total of 47,818 domestic listed companies 52.5% use IFRS standards and 46.1% of companies do not use them. The remaining 1.4% of companies use an unknown framework.
When it comes to foreign listed companies, the IFRS Foundation is aware of 1,000 companies out of 2,538 which use IFRS. But the Foundation said it was working to develop better data on the cross-border listing.
Of the 47,818 domestic listed companies, 18,553 are listed on securities exchanges where the IFRS are neither required nor permitted for any companies. Of these 18,553 companies, 80% (14,886) are listed in China, India, Japan, and the United States.