Regulatory Alerts2018-01-04 | DOF 5510036Added
Resolution modifying the general provisions applicable to development agencies and development entities
The resolution amends Accounting Criteria B-5, B-3, and D-2 in Annexes 37 and 38 of the General Provisions applicable to development agencies and entities. It mandates that federal funds and fiduciaries conducting financial activities, along with Infonacot, Infonavit, and Fovissste, adjust their accounting to recognize credit loss estimate excesses and recoveries in the period they occur, aligning with International Financial Reporting Standards. These changes become mandatory on January 1, 2019, with an option for early adoption upon notification to the CNBV within ten business days. Additionally, specific Financial Information Standards (B-17, C-3, C-9, C-16, C-19, C-20, D-1, and D-2) enter into force on January 1, 2019.
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