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Monday 25 July 2016

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IFRS profiles posted for Gambia, Kuwait and Qatar

 23 March 2016


We have posted new profiles on the use of IFRS in The Gambia, Kuwait, and Qatar. Our website now has profiles for 143 jurisdictions. In 119 of the 143 profiled jurisdictions (83%), IFRS Standards are required for all or most domestic publicly accountable entities (listed companies and banks). 14 of the remaining 24 either permit (rather than require) IFRS Standards or require IFRS Standards for some (but not all or most) domestic publicly accountable entities.

The new profiles show:

  • Gambia. There is currently no stock exchange in The Gambia. IFRS Standards are required for commercial banks and permitted for the consolidated and separate financial statements of all companies other than commercial banks.
  • Kuwait. By Ministerial Decree, all companies that fall under the purview of the Kuwait Commercial Companies Law and some other institutions are required to use IFRS Standards to prepare their consolidated and separate company financial statements, not only publicly traded companies.
  • Qatar. The law and regulations of the Qatar Financial Markets Authority require all listed companies to prepare their consolidated and separate company financial statements in conformity with IFRS Standards.

Overall, the 143 profiles show:

Number of Jurisdictions
Region Jurisdictions in the region Jurisdictions that require IFRS Standards 
for all or most domestic publicly accountable entities
Jurisdictions that require IFRS Standards as % of total jurisdictions in the region Jurisdictions that permit or require IFRS Standards for at least some (but not all or most) domestic publicly accountable entities Jurisdictions that neither require nor permit IFRS Standards for any domestic publicly accountable entities
Europe 43 42 98% 1 0
Africa 20 16 80% 1 3
Middle East 12 11 92% 1 0
Asia-Oceania 31 23 74% 3 5
Americas 37 27 73% 8 2
Totals 143 119 83% 14 10
As % of 143 100% 83%   10% 7%

The profiles can be found here.


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