Extent of IFRS application Status Additional Information
IFRS Standards are required for domestic public companies tick IFRS Standards adopted as Philippines Financial Reporting Standards (PFRS) are required. There are some differences between PFRS and IFRS Standards.
IFRS Standards are permitted but not required for domestic public companies
IFRS Standards are required or permitted for listings by foreign companies tick IFRS Standards adopted as Philippines Financial Reporting Standards (PFRS) are required. There are some differences between PFRS and IFRS Standards.
The IFRS for SMEs Standard is required or permitted tick Permitted. Philippines has adopted the IFRS for SMEs Standard as the Philippines Financial Reporting Standard for SMEs (PFRS for SMEs) without any modifications.
The IFRS for SMEs Standard is under consideration
Last updated:
16 June 2016
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