News release

Date: 19th August 2011

CLS sign licensing arrangement with IFRS Foundation

CLS Communication and the IFRS Foundation have signed an agreement that allows CLS to use IFRS terminology in 31 languages

Zurich, August 19th 2011 - CLS Communication and the IFRS Foundation have signed an agreement that allows CLS to use IFRS terminology in 31 languages.

This terminology has been officially approved by a committee of accounting experts. CLS will integrate the IFRS terminology into its IT-supported translation process, an essential step in ensuring high-quality translations. In addition, the IFRS terminology can be integrated in the online corporate dictionaries that the language services provider CLS offers to its clients.

"All our translators will benefit from this agreement, as they will be able to access the full range of IFRS accounting terms," said Martina Fürlinger, Group Manager Terminology at CLS Communication. "Our clients will benefit in particular, as they can be sure to receive highly professional translations while also having access to online dictionaries that focus on financial reporting."

About CLS Communication

With offices throughout Europe, Asia and North America, CLS Communication (http://www.cls-communication.com) provides its clients professional language translation and technology services in the areas of banking and finance, insurance, telecommunications, life sciences and law.
The company's international network is anchored by its approximately 600 in-house and 2,400 external language experts using state-of-the-art technology. Thanks to this international network, CLS can offer its clients round-the-clock service for writing, editing, translating or proofreading their texts.

About IFRS Foundation

IFRS Foundation is an independent, not-for-profit private sector organisation working in the public interest. Its principal objectives are:
• to develop a single set of high-quality, understandable, enforceable and globally accepted international financial reporting standards (IFRSs) through its standard-setting body, the International Accounting Standards Board;
• to promote the use and vigorous application of these standards;
• to take account of the financial reporting needs of emerging economies and small and medium-sized entities;
• to bring about convergence of national accounting standards and IFRSs to high-quality solutions.
www.cls-communication.com/en/news/1926

Media Contact:
CLS Communication AG
Daniel Funk
Tel. + 41 44 206 41 77
pressrelations[at]cls-communication[dot]com

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