Comparison of proposed new Norwegian accounting law and the IFRS for SMEs

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10 Feb 2017

In September 2015, the Norwegian Ministry of Finance published an exposure draft of a new Accounting Act for Norway that would see current Norwegian accounting standards replaced by requirements based on the IASB’s IFRS for SMEs. As the law is still to be finalised, the Norwegian standard-setter Norsk Regnskapssiftelse cannot issue exposure drafts of actual accounting standards that would implement the new Accounting Act. However, Norsk Regnskapssiftelse has now published a document that shows the differences they will propose to the new accounting standards compared to the IFRS for SMEs if the new Accounting Act is finalised as proposed (including tentative decisions until 31 December 2016).

As with the 2015 exposure draft, the comparison and the corresponding press release are only available in the Norwegian language.

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