Preliminary results - 12 months ended 31 December 2005
2. First time adoption of International Financial Reporting Standards
The Group has adopted International Financial Reporting Standards (IFRS) in preparing these financial statements for the year ended 31 December 2005.
The date of transition to IFRS is 1 January 2004. During 2005, the Group has already published the following restated UK GAAP financial information onto an IFRS basis:
- Restated preliminary opening balance sheet as at 1 January 2004 under International Financial Reporting Standards, published in Appendix B to Aviva plc preliminary announcement 2004 on 9 March 2005 and also in the Aviva plc Annual Report and Accounts for 2004, including auditors’ opinion.
- Release to the market on 5 July 2005, "Impact of International Financial Reporting Standards on the results for 31 December 2004", including the auditors' opinion on pages 30 and 31, containing restated 31 December 2004 financial information as follows:
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- summarised consolidated pro-forma operating profit statement and notes to the analysis of adjustments as a result of the transition to IFRS;
- summarised consolidated statement of recognised income and expense;
- summarised consolidated statement of changes in equity;
- summarised consolidated balance sheet and notes to the analysis of adjustments as a result of the transition to IFRS;
- summarised consolidated income statement – EEV basis;
- summarised consolidated balance sheet – EEV; and
- the Group's IFRS accounting policies.
