10-26-2004, 04:18 AM
Hi All
I hope you all are in best of shape and enjoyign life. I am seeking for some help from your people. Yesterday I was discussing with some one and I got confused. That which accounting standards are followed in Pakistan. I mean British or American. Because I always thought that in Pakistan we are following IAS (International Accounting Standards) which are prepared by IASC (International Accounting Standard Committee/board) which is a British body established in 1970âs but some one told me that IAS is product of FASB (American standard board). But I believe ICAP in Pakistan is following British rules and regulations.
I am sure I even read IAS book issued by ICAP it also states that they are London based that means its British but still if any one of you can clear it I will be highly thankful to him/her.
And secondly what is the standing of IFRS(International Financial Reporting Standards). Are they implemented? Will be implemented if yes then from when? And are they British or American based rules.
Thanks and Regards
Salman Shehzad
Lecturer
Mohammad Ali Jinnah University,
Islamabad Campus.
Phone 92-51-111-87-87-87 Ext 115
Mobile 92-303-7777237
www.jinnah.edu.pk
I hope you all are in best of shape and enjoyign life. I am seeking for some help from your people. Yesterday I was discussing with some one and I got confused. That which accounting standards are followed in Pakistan. I mean British or American. Because I always thought that in Pakistan we are following IAS (International Accounting Standards) which are prepared by IASC (International Accounting Standard Committee/board) which is a British body established in 1970âs but some one told me that IAS is product of FASB (American standard board). But I believe ICAP in Pakistan is following British rules and regulations.
I am sure I even read IAS book issued by ICAP it also states that they are London based that means its British but still if any one of you can clear it I will be highly thankful to him/her.
And secondly what is the standing of IFRS(International Financial Reporting Standards). Are they implemented? Will be implemented if yes then from when? And are they British or American based rules.
Thanks and Regards
Salman Shehzad
Lecturer
Mohammad Ali Jinnah University,
Islamabad Campus.
Phone 92-51-111-87-87-87 Ext 115
Mobile 92-303-7777237
www.jinnah.edu.pk
