Financial Reporting Standards

 Accounting Standards

The Council of the Institute on recommendation of the Accounting Standards Board recommends adoption of IFRS and IAS to the SECP.

SECP notifies the adoption through the Official Gazette.

The latest adoption status of the IFRS / IAS is available here. For the adoption status of IFRIC, click here.

Islamic Financial Accounting Standards

The Institute’s Working Group on Accounting and Auditing Standards for Interest Free Modes of Financing and Investments consisting of various stakeholders, regulators, scholars and practitioners has developed IFAS-1, IFAS-2 and IFAS-3.

The Standards are available to download here.