Extent of IFRS application | Status | Additional Information |
---|---|---|
IFRS Standards are required for domestic public companies | IFRS Standards required for listed companies and financial institutions. | |
IFRS Standards are permitted but not required for domestic public companies | ||
IFRS Standards are required or permitted for listings by foreign companies | Required. | |
The IFRS for SMEs Standard is required or permitted | Required for some SMEs, permitted for others. | |
The IFRS for SMEs Standard is under consideration |
Yes.
Refer to The Rwanda Law Relating to Companies of 2009 (Companies Act), especially in Article 254 (which requires that all companies use International Accounting Standards), and the Law number 11/2008 of 06/05/2008 establishing the Institute of Certified Public Accountants of Rwanda (the ICPAR Law), which was published in the official Gazette of the Republic of Rwanda on 1 August 2008.
Yes.
See above.