Samoa
| Extent of IFRS application | Status | Additional Information |
|---|---|---|
| IFRS Accounting Standards are required for domestic public companies | There is no stock exchange market in Samoa, however, all domestic companies use IFRS Accounting Standards. Small and medium-sized entities have the option to use the IFRS for SMEs Accounting Standard. IFRS 17 Insurance Contracts is not applied in Samoa. | |
| IFRS Accounting Standards are permitted but not required for domestic public companies | ||
| IFRS Accounting Standards are required or permitted for listings by foreign companies | ||
| The IFRS for SMEs Accounting Standard is required or permitted | SMEs have the option to use the IFRS for SMEs Accounting Standard or IFRS Accounting Standards. | |
| The IFRS for SMEs Accounting Standard is under consideration |
Profile last updated: 19 June 2026
RELEVANT JURISDICTIONAL AUTHORITY
Organisation
Samoa Institute of Accountants (SIA)
Role of the organisation
SIA is the governing body of accounting, auditing taxation and other related matters in Samoa.
SIA is a member of the Confederation of Asian Pacific Accountants (CAPA) since 1976. It has a Memorandum of Cooperation with CPA Australia since 2009 with objectives of enhancing capacity building through professional development, knowledge sharing and collaboration on areas of mutual interest and benefit. SIA have also signed a Partnership Agreement with the Ministry for Revenue to strengthen collaboration in enhancing tax processing and administration. The partnership will ensure on going communication and working together to improve compliance, efficiency in service delivery and administration of revenue collection in Samoa.
Website
Email contact
COMMITMENT TO GLOBAL FINANCIAL REPORTING STANDARDS
Has the jurisdiction made a public commitment in support of moving towards a single set of high quality global accounting standards?
Yes.
Has the jurisdiction made a public commitment towards IFRS Accounting Standards as that single set of high quality global accounting standards?
Yes.
What is the jurisdiction’s status of adoption?
Adopted.
Additional comments provided on the adoption status?
See modifications.
If the jurisdiction has NOT made a public statement supporting the move towards a single set of accounting standards and/or towards IFRS Accounting Standards as that set of standards, explain the jurisdiction's general position towards the adoption of IFRS Accounting Standards in the jurisdiction.
Not applicable.
EXTENT OF IFRS APPLICATION
For DOMESTIC companies whose debt or equity securities trade in a public market in the jurisdiction:
Are all or some domestic companies whose securities trade in a public market either required or permitted to use IFRS Accounting Standards in their consolidated financial statements?
There is no stock exchange market in Samoa. All domestic companies use IFRS Accounting Standards and SMEs have the option to use IFRS for SMEs Accounting Standard.
If YES, are IFRS Accounting Standards REQUIRED or PERMITTED?
Does that apply to ALL domestic companies whose securities trade in a public market, or only SOME? If some, which ones?
Not applicable.
Are IFRS Accounting Standards also required or permitted for more than the consolidated financial statements of companies whose securities trade in a public market?
Not applicable.
For instance, are IFRS Accounting Standards required or permitted in separate company financial statements of companies whose securities trade in a public market?
Not applicable.
For instance, are IFRS Accounting Standards required or permitted for companies whose securities do not trade in a public market?
Yes.
If the jurisdiction currently does NOT require or permit the use of IFRS Accounting Standards for domestic companies whose securities trade in a public market, are there any plans to permit or require IFRS Accounting Standards for such companies in the future?
Not applicable.
For FOREIGN companies whose debt or equity securities trade in a public market in the jurisdiction:
Are all or some foreign companies whose securities trade in a public market either REQUIRED or PERMITTED to use IFRS Accounting Standards in their consolidated financial statements?
Not applicable.
If YES, are IFRS Accounting Standards REQUIRED or PERMITTED in such cases?
Not applicable.
Does that apply to ALL foreign companies whose securities trade in a public market, or only SOME? If some, which ones?
Not applicable.
IFRS ENDORSEMENT
Which IFRS Accounting Standards are required or permitted for domestic companies?
All domestic companies use IFRS Accounting Standards and SMEs have the option to use IFRS for SMEs Accounting Standard.
The auditor’s report and/or the basis of presentation footnote states that financial statements have been prepared in conformity with:
IFRS Accounting Standards.
Does the auditor's report and/or the basis of preparation footnote allow for ‘dual reporting’ (conformity with both IFRS Accounting Standards and the jurisdiction’s GAAP)?
Not applicable.
Are IFRS Accounting Standards incorporated into law or regulations?
Yes.
If yes, how does that process work?
The Samoa Institute of Accountants Act 2006 empowers the Council of the Institute to prescribe accounting standards to be applied in Samoa. Although the Act does not explicitly mention IFRS Accounting Standards, the Council, under this authority, has formally adopted IFRS Accounting Standards (including IFRS for SMEs Accounting Standards) as the national financial reporting framework.
If no, how do IFRS Accounting Standards become a requirement in the jurisdiction?
Not applicable.
Does the jurisdiction have a formal process for the 'endorsement' or 'adoption' of new or amended IFRS Accounting Standards (including Interpretations) in place?
Yes.
If yes, what is the process?
The Council of the Samoa Institute of Accountants has formally adopted IFRS Accounting Standards (including IFRS for SMEs Accounting Standards) as the national financial reporting framework. Once the Council has adopted, the standards they become mandatory for members and entities preparing general purpose financial statements in Samoa.
If no, how do new or amended IFRS Accounting Standards become a requirement in the jurisdiction?
Not applicable.
Has the jurisdiction eliminated any accounting policy options permitted by IFRS Accounting Standards and/or made any modifications to any IFRS Accounting Standards?
IFRS 17 Insurance Contracts has been deferred.
If yes, what are the changes?
Other comments regarding the use of IFRS Accounting Standards in the jurisdiction?
None.
TRANSLATION OF IFRS ACCOUNTING STANDARDS
Are IFRS Accounting Standards translated into the local language?
No.
If they are translated, what is the translation process? In particular, does this process ensure an ongoing translation of the latest updates to IFRS Accounting Standards?
Not applicable.
APPLICATION OF THE IFRS FOR SMEs ACCOUNTING STANDARD
Has the jurisdiction adopted the IFRS for SMEs Accounting Standard for at least some SMEs?
Yes.
If no, is the adoption of the IFRS for SMEs Accounting Standard under consideration?
Not applicable.
Did the jurisdiction make any modifications to the IFRS for SMEs Accounting Standard?
No.
If the jurisdiction has made any modifications, what are those modifications?
Not applicable.
Which SMEs use the IFRS for SMEs Accounting Standard in the jurisdiction, and are they required or permitted to do so?
All SMEs that do not have public accountability.
For those SMEs that are not required to use the IFRS for SMEs Accounting Standard, what other accounting framework do they use?
IFRS Accounting Standards.
Other comments regarding use of the IFRS for SMEs Accounting Standard?
None.
