SEC Memorandum Circular No. 01, Series of 2024 Adoption of Philippine Financial Reporting Standards (PFRSs) and Philippine Interpretations Committee Questions and Answers (PIC Q&As)

The Securities and Exchange Commission issued Memorandum Circular No. 01, Series of 2024 to formally adopt the Philippine Financial Reporting Standards and the Philippine Interpretations Committee Questions and Answers. This regulatory action ensures that listed companies and other reporting entities comply with the latest accounting standards and interpretations in the Philippines. The circular was published in major newspapers and filed with the University of the Philippines Law Center on February 1, 2024.