Belarus requires IFRSs for all listed companies from 2016 on

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14 Jul 2013

On 12 July 2013, Belarus passed an Accounting Law requiring IFRSs for the consolidated financial statements of all public interest entities starting 1 January 2016.

Public interest entities include:

  • companies whose securities are traded in a public market;
  • banks;
  • nonbanking financial organisations; and
  • insurance companies.

Also, IFRS are permitted for the subsidiaries of such companies.

Currently, only banks apply IFRSs in Belarus (since 2008). They also have to apply IFRSs when preparing their separate financial statements.

Please click for access to the new Accounting Law (link to Ministry of Finance website, available in Belarusian only).

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