Global Standards for the world economy

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Taiwan allows non-public companies to use IFRS Standards

 04 April 2016

The Ministry of Economic Affairs in Taiwan has announced that non-public companies in Taiwan can choose to apply either IFRS Standards as endorsed by the Financial Supervisory Commission (FSC, the securities regulator) or the national accounting standards developed by the Accounting Research and Development Foundation (the national standard-setter) from 1 January 2016.

Non-public companies in Taiwan are subject to the administration of the Ministry of Economic Affairs.

IFRS Standards as endorsed by the FSC are IFRS Standards as issued by the International Accounting Standards Board with several options removed and several differences in effective dates.

To view the full jurisdiction profile of Taiwan click here.

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