This document discusses the transition to International Financial Reporting Standards (IFRS) in Israel. It notes that in 2006, Israel mandated that all public companies switch to IFRS reporting by 2008. The transition has created challenges for CFOs to understand the new standards and adjust reporting processes. Some companies have struggled with the changes required for fair value accounting and reporting under IFRS. Overall, the transition to IFRS is an important and complex change for Israeli companies and financial reporting.

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