Extent of IFRS application Status Additional Information
IFRS Standards are required for domestic public companies tick Domestic companies whose securities trade in a public market, financial institutions, public utilities, and large-sized companies are required to use IFRS Standards as adopted in Pakistan. Some important Standards have not been adopted for companies asserting compliance with IFRS Standards as adopted in Pakistan. And Pakistan has not applied IFRS 1 First-time Adoption of IFRS.
IFRS Standards are permitted but not required for domestic public companies
IFRS Standards are required or permitted for listings by foreign companies tick Foreign companies whose securities trade in a public market in Pakistan are required to use IFRS Standards as adopted in Pakistan.
The IFRS for SMEs Standard is required or permitted tick Permitted. In adopting the IFRS for SMEs Standard, Pakistan added an option to capitalise borrowing costs relating to the construction or acquisition of an asset similar to the requirement of IAS 23 Borrowing Costs.
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.