In January of 2009,the National Banking and Securities Commission made mandatory the presentation of financial statements prepared in accordance with IFRS starting with the year ending December 31, 2012, but allowing for early adoption for the years 2008-2011, subject to prior notification to the CNBV and Mexican Stock Exchange (BMV). One of the early adopters of the requirement is the Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA. The operator announced that it will make early adoption of International Financial Reporting Standards (IFRS) (beginning a year ahead of the mandate with their first IFRS financial statements being year ending December 31, 2011, they will be considering the year 2010 as a transition year) and provided information on the estimated effects of the change.
It seems like the accounting standards world is coming closer to convergence and becoming totally global.
