The Committee of European Securities Regulators (CESR) has published a recommended timetable for listed companies in Europe to manage the transition to international accounting standards by 2005.

The implementation of International Financial Reporting Standards (IFRS) is one of the central parts of the European Union's attempts to create a single financial market by 2005, and has also been one of the most controversial. Under the terms of an agreement struck in July 2002, all listed companies in Europe will have to use international accounting standards for their 2005 consolidated accounts.