(5)Since the adoption of Regulation (EC) No 1606/2002 many countries have adopted IFRS directly into their national accounting standards. This clearly demonstrates that one of the aims of this Regulation — namely to encourage the increasing convergence of accounting standards so that IFRS are accepted internationally and are truly global standards — is being fulfilled. Accordingly, it is appropriate that third country issuers should be exempt from the obligation to restate historical financial information prepared in accordance with national accounting standards, or to provide a narrative description of differences as referred to in Article 1(2)(5A) hereof, if, in accordance with IAS 1 Presentation of Financial Statements, they contain an explicit and unreserved statement that they comply with IFRS.