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Suriname plans to adopt IFRS for SMEs

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28 Jun 2010

The government of Suriname is deliberating a new accountancy law that would require the IFRS for SMEs (with full IFRSs as an option) for large and medium-sized unlisted companies and any other unlisted company whose financial statements are audited.

Full IFRSs would be required for listed companies. The proposed law is supported by the Association of Accountants of Suriname. Currently, Suriname does not have any legislation on accounting principles or financial statements. The local securities exchange also does not prescribe a specific set of accounting principles to be used by its listed companies. However, while IFRSs are not mandatory, a company is free to use IFRSs if it wishes.

 

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