This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Gerdau AmeriSteel adopts IFRS reporting standards 2009-09-22 19:22 ET - News Release Ms. Barbara Smith reports GERDAU AMERISTEEL REPORTS EARLY ADOPTION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS FOR THE YEAR COMMENCING JANUARY 1, 2009 On Sept. 15, 2009, the Ontario Securities Commission (OSC) granted approval for Gerdau Ameristeel Corp. to adopt international financial reporting standards (IFRS) with an adoption date of Jan. 1, 2009, and a transition date of Jan. 1, 2008. The company believes that the adoption of IFRS is in the best interests of the company and the users of its financial information because the adoption of IFRS will align the bases of accounting under which the company and its majority shareholder, Gerdau SA, prepare their financial statements and increase the comparability of the company's financial statements with those of a number of global issuers, including competitors within the steel industry, who already prepare, or will soon be required to prepare, financial statements in accordance with IFRS. The following discussion provides further information about the company's conversion to IFRS. The remainder is available to Stockwatch subscribers.
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