Tanzania will require IFRS in 2004 for listed companies

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20 Nov 2002

Effective from 1 July, 2004, the National Board of Accountants and Auditors adopted the International Financial Reporting Standards (IFRSs) and International Accounting Standards, issued by the International Accounting Standards Board (IASB), and International Standards of Auditing (ISAs), issued by the International Federation of Accountants (IFAC), as Tanzanian standards.

At the same time, the Board continued in force the following Tanzania Financial Accounting Standards (TFASs) and Tanzania Statements of Recommended Practice (TSRPs) that do not have counterpart International standards:

Tanzania Financial Accounting Standards (TFASs)

  • TFAS No. 12 Director's Report
  • TFAS No. 16 Accounting for Extractive Industries
  • TFAS No. 23 Accounting for Value Added Tax (VAT)
  • TFAS No. 24 Public Sector Accounting

Tanzania Statements of Recommended Practice (TSRPs)

  • TSRP 2 Accounting for Non-Governmental Organizations
  • TSRP 3 Governance in the Public Sector - An Accounting Officer's Perspective

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