RegAlertRule · SECP · 25 Feb 2020
SRO 131 (I)/2019 Notification for deferment of IFRS-9 for Modarabas
The Securities and Exchange Commission of Pakistan modifies the effective date for the applicability of International Financial Reporting Standard - Financial Instruments (IFRS 9) in place of International Accounting Standard (IAS) 39 for Modarabas. The standard now applies to reporting periods or years ending on or after 30 June 2020, with earlier application permitted. This modification partially alters S.R.O. 229 (I)/2019 dated 14 February 2019.
GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.- Islamabad, the 24 th February, 2020 NOTIFICATION S. R. O. 131 (I)/2019. - In exercise of the powers conferred by section 510, read with subsection (1) of sections 225 of the Companies Act, 2017 (XIX of 2017), and in partial modification of S.R.O. 229 (I)/2019, dated 14 th February, 2019, the Securities and Exchange Commission of Pakistan is pleased to modify the effective date for applicability of International Financial Reporting Standard - Financial Instruments (IFRS 9) in place of International Accounting Standard (IAS) 39 (Financial Instruments: Recognition and Measurement) for Modarabas as “Reporting period/year ending on or after 30 th June, 2020 (earlier application is permitted)”. [File. No. SC/M/IFRS/2020]
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- Amends
“and in partial modification of S.R.O. 229 (I)/2019, dated 14 th February, 2019”
Timeline
This document amends: SRO 229 (I)/2019: Modification of IFRS 9 Effective Date
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