conflict between local GAAP and IAS

Dear Mike,

Thank you for your all your support for ACCA 🙂

Just wanted to ask you incase of a conflict between local GAAP of a country and IAS which will be applied ?

For example in answer to june 2015 section B question 1(A) the examiner has included the capitalisation of interest (IAS 23) in FV of assets @ DOA. even though the local GAAP prohibits this.

Thanks