Extent of IFRS application Status Additional Information
IFRS Standards are required for domestic public companies tick The Philippines has adopted IFRS Standards as Philippine Financial Reporting Standards (PFRSs), except on the aspect of revenue recognition under IFRS 15 for real estate companies that avail of the relief granted by the SEC.
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.
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).
The IFRS for SMEs Standard is under consideration
Last updated:
04 April 2019

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