New IFRS publications from Deloitte Korea
05 Nov 2007
In March 2007, the Korean Financial Supervisory Commission and the Korea Accounting Institute announced a plan for adopting Korean equivalents of International Financial Reporting Standards (K-IFRSs).
All listed companies will be required to prepare their annual financial statements under K-IFRSs beginning in 2011. Listed companies other than financial institutions will be permitted to do so beginning in 2009. Unlisted companies will be allowed to use K-IFRSs. To help clients and staff in the transition to K-IFRSs, Deloitte Korea has just issued four IFRS publications in the Korean language, as follows:
- Model IFRS Financial Statements for 2006 (PDF 490k, Korean)
- Guide to IFRS 1 First-time Adoption (PDF 570k, Korean)
- Guide to IFRS 2 Share-based Payment (PDF 608k, Korean)
- Guide to IFRS 3 Business Combinations (PDF 416k, Korean)