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Norway defers decision on IFRS for SMEs until 2017

 29 March 2016

In October 2015, we revised our profile on the use of IFRS® Standards in Norway to reflect a proposal by the Norwegian Ministry of Finance to require companies whose securities do not trade in a regulated market to use new national standards based on the IFRS for SMEs in their consolidated financial statements.

The profile noted that the Ministry expected to take final action on the proposals in mid-2016. We published a Global Standards Alert with that information.

It now appears more likely that the Ministry will not take final action on the proposals until Spring 2017. We have accordingly updated our website profile on the use of IFRS Standards in Norway.

The profiles can be found here.

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