Software Supports Automated Ifrs Asset Valuation

摘要

Dutch water company Vitens is a significant water provider - it has 2.3 million connections, serves 5.4 million people in the centre ofThe Netherlands, and has an annual turnover of €427 million (2007) ($540 million).The utility has a 47,500km network and 96 production sites that deliver 330Mm3 of water per day. The International Financial Reporting Standards (IFRS) guidelines were set up after the Enron financial scandal in the United States, and are intended to provide a framework for annual financial reporting on issues such as budgets.These standards are intended to be internationally comparable, and replace national standards such as the Dutch GAAP. In The Netherlands, companies that are quoted on the stock markets must use these guidelines.Water utilities can also adopt them if required, andVitens has been using them since 2006.