Grupo Aeroportuario del Pacífico, S.A.B. de C.V. PAC today announced its implementation plan for the adoption of International Financial Reporting Standards, which will be used by GAP to report financial information beginning on January 1, 2012.
GAP hereby gives a detailed progress update of its adoption of IFRS for the preparation and reporting of its financial statements and related information to financial markets beginning January 1, 2012.
On May 13, 2011 the National Banking and Securities Commission in Mexico sent all companies listed on the Mexican Stock Exchange a request for the companies to present progress reports of their implementation plans for the adoption of IFRS. The CNBV letter requests answers to specific questions and provides items that should be addressed by the companies in their responses. The items and questions from the CNBV's letter have been set forth in the paragraphs below to provide structure for the reader. GAP's responses and comments follow each item or question.
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