Regulatory Alerts2026-07-22
Added · Updated
Adoption of Philippine Financial Reporting Standards and PIC Q&As
The Securities and Exchange Commission adopts specific Philippine Financial Reporting Standards and Philippine Interpretations Committee Questions and Answers as part of its rules and regulations on financial reporting. The approved pronouncements include PFRS 18, PFRS 19, IFRS S1, IFRS S2, and various amendments to PFRS 9, PFRS 7, and PFRS 17, alongside new interpretations regarding experience refunds, bundled contracts, and plastic packaging costs. These standards apply to entities subject to SEC financial reporting requirements and were approved on July 14, 2026, with issuance on July 15, 2026.
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