BPP Black Friday sale!

40% discount on all BPP books specially for OpenTuition students!
Get it here >>

Status of IFRS Standards

This topic has 1 reply, 2 voices, and was last updated 5 years ago by P2-D2.

Viewing 2 posts - 1 through 2 (of 2 total)

Author
Posts
August 27, 2019 at 4:48 pm #536984
vaishnavimamidipudi
Participant
- Topics: 2
- Replies: 0
Hello sir,
Why is it so that IASB or the IFRS Foundation cannot enforce the compliance with the IFRS standards…. What is the actual status of IFRS standards…
Why does the Board has only a persuasive role?
August 27, 2019 at 8:42 pm #539724
P2-D2
Keymaster
- Topics: 4
- Replies: 7065
Hi,
It is up to the local jurisdiction/law as to what standards are applied by which entity. They will either be local rules or IFRS rules, the IASB Foundation has no say in which should be applied.
Thanks
Author
Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.