El Salvador
Local stock exchange Bolsa de Valores de El Salvador
http://www.bves.com.sv
Rules for listed filings
IFRS required or permitted for listed companies?
Required beginning January 1, 2011 for consolidated and standalone/separate financial statements except for banks, insurance companies and other regulated financial entities.
Version of IFRS
IFRS as published by the IASB and IFRS as adopted locally
Are subsidiaries of foreign companies or foreign companies listed on local exchanges subject to different rules?
No
Rules for statutory filings
Is IFRS or IFRS for SMEs required, permitted or prohibited for statutory filings?
IFRS or IFRS for SMEs is required (beginning January 1, 2011) for consolidated and standalone/separate financial statements.
Version of IFRS
IFRS or IFRS for SMEs as published by the IASB and adopted locally
In addition to local GAAP statutory financial statements, are there any other regulatory financial statement requirements that permit or require the use of IFRS?
Not applicable
IFRS conversion plans
Plans for converging
Full adoption of IFRS is mandatory for listed companies starting in 2011. Beginning January 1, 2011, all entities are required to adopt IFRS or IFRS for SMEs.
Other useful websites
Consejo de Vigilancia de la Profesión de Contaduría Pública y Auditoría. http://www.consejodevigilancia.gob.sv
Local stock exchange Bolsa de Valores de El Salvador
http://www.bves.com.sv
Rules for listed filings
IFRS required or permitted for listed companies?
Required beginning January 1, 2011 for consolidated and standalone/separate financial statements except for banks, insurance companies and other regulated financial entities.
Version of IFRS
IFRS as published by the IASB and IFRS as adopted locally
Are subsidiaries of foreign companies or foreign companies listed on local exchanges subject to different rules?
No
Rules for statutory filings
Is IFRS or IFRS for SMEs required, permitted or prohibited for statutory filings?
IFRS or IFRS for SMEs is required (beginning January 1, 2011) for consolidated and standalone/separate financial statements.
Version of IFRS
IFRS or IFRS for SMEs as published by the IASB and adopted locally
In addition to local GAAP statutory financial statements, are there any other regulatory financial statement requirements that permit or require the use of IFRS?
Not applicable
IFRS conversion plans
Plans for converging
Full adoption of IFRS is mandatory for listed companies starting in 2011. Beginning January 1, 2011, all entities are required to adopt IFRS or IFRS for SMEs.
Other useful websites
Consejo de Vigilancia de la Profesión de Contaduría Pública y Auditoría. http://www.consejodevigilancia.gob.sv
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