In addition to implementation options with respect to the scope of
IFRS, the IAS Regulation also provides for timing options. Specifically,
Article 9 enables member states to defer application of the Regulation
until financial years starting after January 1, 2007 for issuers of debt
securities only and/or for companies whose securities were admitted
to public trading in a non-member state and which, for that purpose,
had previously been using another internationally-accepted standard.
The latter option was introduced as a bridge measure for EU and EEA
companies that had opted to use US GAAP prior to the passage of the
IAS Regulation because their shares were cross-listed on a US stock
exchange. Table 4 summarizes the exercise of implementation options
under the transitional provisions of Article 9.