Extent of IFRS application Status Additional Information
IFRS Standards are required for domestic public companies tick All domestic companies whose securities trade in a public market only in Israel are required to use IFRS Standards except for banking institutions (listed and unlisted, including credit card companies). Banking institutions follow regulatory accounting standards. Domestic companies whose securities trade both in Israel and on specified foreign stock exchanges are allowed to file in Israel financial statements according to IFRS Standards, IFRS Standards as adopted by the European Union, or US GAAP.
IFRS Standards are permitted but not required for domestic public companies
IFRS Standards are required or permitted for listings by foreign companies tick With limited exceptions, foreign companies are required to use IFRS Standards in their consolidated financial statements. The exceptions are for (a) foreign companies whose securities are traded both in Israel and in specified other stock exchanges and (b) foreign companies that are controlled outside of Israel or whose revenues are primarily from outside Israel. The exception companies may use IFRS Standards, IFRS Standards as adopted by the European Union, or US GAAP.
The IFRS for SMEs Standard is required or permitted tick Permitted.
The IFRS for SMEs Standard is under consideration
Last updated:
16 June 2016
close

This website uses cookies. You can view which cookies are used by viewing the details in our privacy policy.