Unlisted companies in Lithuania may use IFRSs

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17 Dec 2008

The Law on Financial Statements of Entities of the Republic of Lithuania was amended on 26 June 2008 to permit unlisted companies to choose to prepare their financial statements using IFRSs.

Alternatively, unlisted entities may use Business Accounting Standards (Lithuanian national standards). Once an entity has made its choice, it may not change for five years (unless the entity joins a group of entities). Our comprehensive table on use of IFRSs is here.


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