Extent of IFRS application Status Additional Information
IFRS Standards are required for domestic public companies tick Domestic companies have a choice of using (a) IFRS Standards as endorsed by the Financial Supervisory Commission (FSC) or (b) with approval of the FSC, IFRS Standards as issued by the IASB. IFRS Standards as endorsed by the FSC differ from IFRS Standards as issued by the IASB Board because some options have been eliminated and the mandatory effective dates of some standards have been deferred beyond the effective dates adopted by the IASB.
IFRS Standards are permitted but not required for domestic public companies
IFRS Standards are required or permitted for listings by foreign companies tick Permitted. Foreign companies may use IFRS Standards as endorsed by the FSC, full-IFRS Standards, or US GAAP.
The IFRS for SMEs Standard is required or permitted No. SMEs may choose IFRS Standards as endorsed by the FSC or local accounting standards.
The IFRS for SMEs Standard is under consideration No.
Last updated:
16 June 2016
Last updated:
18 November 2015
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