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Ifrs applicability

suhag (CA Final) (80 Points)

28 June 2014

One of my client which is unlisted pvt company want to impliment IFRS .Can it do so? and what are the minimum requirement for IFRS?

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4 Replies

CA. Mayur (Service) (147 Points)
Replied 29 June 2014

I think that your client wants to prepare the IFRS financial statement for some transaction (like selling stake to PE or foreign commpany). Your client can prepare general purpose or special purpose IFRS financial statements as required under your case. There is nothing like minimum requirements for preparing the IFRS financial statements.

Amit Ashok Chawla (Corporate Trainer) (383 Points)
Replied 02 July 2014

Dear Suhag,

Many public / private companies are already complying with IFRSs. There is no such minimum requirement to apply IFRS standards.

Thanks!

Akshay (MBA) (23 Points)
Replied 09 September 2014

Originally posted by : suhag
	One of my client which is unlisted pvt company want to impliment IFRS .Can it do so? and what are the minimum requirement for IFRS?

Dear Suhag, Many public / private companies are already complying with IFRSs. There is no such minimum requirement to apply IFRS standards. Thanks!
Even you can know more about Exam Results here.

Akshay (MBA) (23 Points)
Replied 09 September 2014

Originally posted by : suhag
	One of my client which is unlisted pvt company want to impliment IFRS .Can it do so? and what are the minimum requirement for IFRS?

Dear Suhag, Many public / private companies are already complying with IFRSs. There is no such minimum requirement to apply IFRS standards. Thanks!