Extent of IFRS application Status Additional Information
IFRS Standards are required for domestic public companies tick Domestic public companies are required to use Myanmar Financial Reporting Standards (MFRS), which are identical to the 2010 versions of IFRS Standards. In July 2018, the MAC announced the adoption of the latest versions of IFRS Standards for financial reporting periods beginning in or after the 2022–2023 financial year. Early adoption of IFRS Standards is permitted.
IFRS Standards are permitted but not required for domestic public companies
IFRS Standards are required or permitted for listings by foreign companies There are no foreign companies whose securities trade in a public market in Myanmar.
The IFRS for SMEs Standard is required or permitted tick Myanmar has adopted the 2009 version of the IFRS for SMEs Standard as the MFRS for SMEs. In July 2018, the MAC announced the adoption of the latest version of the IFRS for SMEs Standard for financial reporting periods beginning in the 2022–2023 financial year. Early adoption of the IFRS for SMEs Standard is permitted.
The IFRS for SMEs Standard is under consideration
Last updated:
17 April 2019
Last updated:
08 June 2015

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