06-23-2006, 12:06 AM
The Instituteâs Council in its 180th meeting held on April 28, 2006 decided to adopt following IFAC pronouncements
o w International Framework for Assurance Engagements ( I FAE);
o w ISA 720 - Other Information;
o w International Standard on Assurance Engagements (ISAE) 3000
The Council also approved adoption of following International Financial Reporting Standards and decided to recommend to SECP for their notification-
o w IFRS 2 â Share-based Payment
o w IFRS 3 â Business Combinations
o w IFRS 5 â Non-current Assets Held for Sale and Discontinued Operations
o w IFRS 6 â Exploration for and Evaluation of Mineral Resources
The above IFRSs will be applicable for preparation of financial statements for the periods beginning on or after July 1, 2006.
o w International Framework for Assurance Engagements ( I FAE);
o w ISA 720 - Other Information;
o w International Standard on Assurance Engagements (ISAE) 3000
The Council also approved adoption of following International Financial Reporting Standards and decided to recommend to SECP for their notification-
o w IFRS 2 â Share-based Payment
o w IFRS 3 â Business Combinations
o w IFRS 5 â Non-current Assets Held for Sale and Discontinued Operations
o w IFRS 6 â Exploration for and Evaluation of Mineral Resources
The above IFRSs will be applicable for preparation of financial statements for the periods beginning on or after July 1, 2006.
