This excerpt taken from the FTE 6-K filed Apr 27, 2005.
1.2 Organization of the conversion project
The Group launched the IFRS conversion project in July 2003. The various phases of the project consisted of identifying and dealing with the main differences in accounting methods at 31 December 2004, and preparing the preliminary opening IFRS balance sheet at 1 January 2004 as well as the adjustments to the 2004 monthly financial flows.
The project forms part of a broader programme to enhance management reporting, deploy a new consolidation tool and a new chart of accounts throughout the Group. To ensure that accounting policies are defined and implemented consistently throughout the Group, the IFRS conversion project is being led by a corporate team that is responsible for managing the project plans at both Group and sub-group levels.
The main committees responsible for ensuring the success of the project and track progress are as follows: