Rule · SECP · 27 Nov 2019

SRO 1480 (I)/2019 Notification of International Financial Reporting Standard (IFRS) 14

The Securities and Exchange Commission of Pakistan mandates that all classes of companies required by the Companies Act, 2017 to follow IFRS must apply International Financial Reporting Standard (IFRS) 14 – Regulatory Deferral Accounts and any further revisions issued by the International Accounting Standards Board. This requirement applies to the preparation of financial statements for annual reporting periods beginning on or after 1st July 2019. The notification serves as a continuation of earlier S.R.O. 633(I)/2014.

PakistanSecurities and Exchange Commission of Pakistan

GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.-.- Islamabad, the 27 th November, 2019 NOTIFICATION S.R.O. 1480 (I)/2019.- In exercise of the powers conferred by section 510 read with subsection 1 of section 225 of the Companies Act, 2017 (XIX of 2017) (the “Act”) the Securities and Exchange Commission of Pakistan (the Commission), in continuation of its earlier S.R.O. 633(I)/2014, dated 10 th July 2014, is pleased to notify that the International Financial Reporting Standard (IFRS) 14 – “Regulatory Deferral Accounts” and any further revisions issued by the International Accounting Standards Board shall be followed for the preparation of financial statements for the annual reporting periods beginning on or after 1 st July 2019 by all classes of companies that are required by the Act to follow IFRS as notified by the Commission. _____________________________________________________________________________ [File. No. EMD/IACC/4/2009]

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The Companies Act, 2017 (Act No. XIX of 2017)2017 · PK-LAW
“In exercise of the powers conferred by section 510 read with subsection 1 of section 225 of the Companies Act, 2017 (XIX of 2017) (the “Act”)”