Regulatory Alerts2019-11-21
SEC Memorandum Circular No. 22 s.2019 Adoption of Philippine Interpretations Committee Questions and Answers
The Securities and Exchange Commission of the Philippines adopted specific Philippine Interpretations Committee Questions and Answers as part of its financial reporting rules and regulations. This memorandum circular integrates five pronouncements addressing fair value hierarchy for government securities, service charges under PFRS 15, cryptographic assets, and revenue recognition for sugar millers. These adopted standards become effective upon their respective approval by the Financial Reporting Standards Council or as specified within the individual Q&As.
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