Wednesday, 20 August 2008

Infosys Technologies Documents Quarterly Report on Form 6-K with U.S. SEC

Infosys Technologies recently filed its quarterly report on Form 6-K 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). The date of adoption by Infosys of IFRS is expected to be March 31, 2009 with the date of transition being April 1, 2007.

“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,” said Infosys’ Chief Financial Officer V. Balakrishnan.

In addition to this, the company 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. The company 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.