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blue-check The Ministry of Finance recommends that enterprises should not apply International Financial Reporting Standards at this time

Official letter No. 924/BTC-QLKT dated February 2nd, 2023 of the Ministry of Finance regarding voluntary application of International Financial Reporting Standards (IFRS) to make personal financial statements
Posted: 9/2/2023 2:48:30 PM | Latest updated: 13/2/2023 2:29:02 PM (GMT+7) | LuatVietnam: 5634
VietlawOnline

The Ministry of Finance assumes that the application of IFRS needs to be approached carefully according to actual situation, temporarily enterprises still apply Vietnamese corporate accounting standards and regimes to formulate and present financial statements; they have yet to apply IFRS until there are official instructions from the authorities.

Now, the Ministry of Finance is focusing on researching and updating Vietnamese Accounting Standards according to International Financial Reporting Standards and practices.

Ms Phuong Thao (VietlawOnline.com)
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