BusinessCompany NewsDaimler postpones results due to IFRS changeover

Daimler postpones results due to IFRS changeover

2007 first-quarter results postponed from April to mid-May

German-US carmaker
DaimlerChrysler
has been forced to postponing publishing its 2007
first-quarter results as a result of its switch from
US GAAP to
International
Financial Reporting Standards
(IFRS).

The company said it will now publish its interim report for the first quarter
of 2007 on 15 May, not on 26 April as was originally planned.

‘This change of date has been caused solely by delays with the preparation of
the financial statements for the year 2006 and with the parallel work for the
IFRS financial statements,’ the company said in a statement.

Daimler-Chrysler was among those compaines allowed by Germany to put off
making the transition to IFRS until 2007 because of its use of US GAAP.

Further reading:

Senior managers suspended from Daimler Chrysler

Anger as Daimler considers outsourcing accounting

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