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Mozambique extends use of IFRSs

  • Mozambique Image

01 Dec 2009

On 3 November 2009, the government of Mozambique approved a Decree establishing a new private sector accounting system that requires the use of IFRSs starting 1 January 2010 by all listed companies, public companies, companies with a majority state shareholding, and other large companies.

Starting 1 January 2011, IFRSs will be required for all medium-sized companies. The government said that introducing IFRSs would provide greater transparency and comparability and make auditing and regulation easier. Under a previous Decree, banks in Mozambique were required to use IFRSs starting in July 2008. Here is our Mozambique Page.

 

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