The Technical Services Department of the Institute has prepared the publication on financial reporting titled Adoption and Application of IFRS in Pakistan, with the objective to facilitate you in understanding and evaluating the applicability of International Financial Reporting Standards (IFRS) under the Companies Act, 2017.
The publication would provide you with:
- An overview of IFRS adoption status of Pakistan.
- List of new IFRS (including amendments to IFRS) applicable to December 31, 2019 financial statements.
- Details of exemptions/relaxations from IFRS granted by the Securities and Exchange Commission of Pakistan and State Bank of Pakistan.
- Application timelines of currently granted exemptions from IFRS.
- Financial statement considerations in adopting new and revised IFRS requirements.
- List of IFRS adopted in Pakistan as of December 31, 2019.
We hope that you find the information in the publication helpful
Circular 2 – Publication on Financial Reporting – Adoption and Application of IFRS in Pakistan
Publication – Adoption and Application of IFRS in Pakistan