When did Endesa Chile adopt the IFRS?
On August 28, 2007, the Superintendency of Securities and Insurances (SVS) announced the adoption of International Financial Reporting Standards (IFRS) in Chile beginning on January 1, 2009, in keeping with which Endesa Chile voluntarily adopted these standards as of that date. Consequently, the Financial Statements for the period ended March 31, 2009 have been prepared, for the first time, under IFRS. It implies several changes in the accounting principles used for financial statements, which have been authorized by the SVS as part of the migration from Chilean Generally Accepted Accounting Principles to IFRS. Main effects of this migration in our Financial Statements can be seen in our website under Investor Relations/Presentations. Figures as of March, 2008, have been reconciled under IFRS for comparable purposes.
