Kazakhstan

Financial Reporting Framework in Kazakhstan

Companies other than banks

Starting 1 January 2005, IFRSs required for all joint stock companies. This includes all listed companies plus some others.

Starting 1 January 2006, IFRSs required for other companies with significant public interest, incljuding extractive industry companies and companies with Governmental ownership.

All banks

Some banks and financial institutions in Kazakhstan were required to implement IFRSs beginning in 2003. Further, banks in Kazakhstan that chose to participate in that country's deposit insurance fund have been required to prepare financial statements using IFRSs as well as Kazakh reporting standards. Starting in 2004, all banks are required to participate in the deposit insurance programme. Therefore, all Kazakh banks began preparing IFRS financial statements for 2004.

Related news

  • IASB meets with CIS and Baltic States for IFRS update

  • Nov 30, 2011

  • On 28 and 29 November 2011, members of the IFRS Foundation and the IASB met with representatives of professional accounting and auditing bodies and ministries from the Commonwealth of Independent States (CIS) and the Baltic States.

  • More than 70 jurisdictions apply ISAs

  • Jul 11, 2011

  • On June 30 2011, Prof. Arnold Schilder, the Chairman of the IAASB, delivered a speech on global progress in the use of the Clarified International Standards on Auditing (ISAs) at the 2011 annual conference on Accounting and Accountability for Regional Economic Growth in Latin America and the Caribbean (referred to as CReCER after its Spanish/Portuguese acronym).

  • A Driving Wind for IFRS from Asia-Oceania

  • Jun 08, 2011

  • The Asian-Oceanian Standard-Setters Group (AOSSG) has published today "A Vision Paper of the Asian-Oceanian Standard-Setters Group 2011 — A Driving Wind for IFRS from Asia-Oceania".

  • All banks in Kazakhstan must use IFRSs

  • Oct 28, 2004

  • For several years, banks in Kazakhstan that chose to participate in that country's deposit insurance fund have been required to prepare financial statements using IFRSs as well as Kazakh reporting standards.

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