Infosys files quarterly report with US SEC

[nandagopal]

Infosys Technologies today announced that they have filed their quarterly report on Form 6K with the U.S. Securities Exchange Commission (SEC), which included financial statements prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (IFRS).

According to the company statement the date of adoption issued by the company to IFRS is expected to be March 31, 2009 with the date of transition being April 1, 2007.

It has voluntarily filed unaudited financial statements prepared in accordance with U.S. GAAP for the quarter ended June 30, 2008 as an exhibit to its quarterly reported on Form 6-K, said a press release.

It intends to adopt IFRS as of March 31, 2009 and intends to continue providing unaudited US GAAP financial statements for quarters ending September 30, 2008 and December 31, 2008 as an exhibit to its quarterly reports on Form 6-K, said a press release.

V. Balakrishnan, chief financial officer, Infosys' said, "Infosys is always in the forefront of adopting the best financial accounting and corporate governance practices and this is yet another milestone in this continuing journey."