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The AFS has approved the Instructions concerning the IFRS standards application

The Authority for Financial Surveillance has made public, on the 26th of February 2015, an official statement regarding the decisions that had been adopted the same day, by the AFS Board.

The Board has approved, amongst others, the project for the amendment of the „Instructions no. 2/2014 on the International Financial Reporting Standards by the authorized entities, established and controlled by the AFS from the Sector of Financial Instruments and Investments” and has approved, as well, the delay of the obligation to implement IFRS beginning with the 1st of January 2016 for the entities found in the capital market or the insurance market. A work group has been established at AFS level, in order to develop a strategy concordant with the market conditions, in order to respect the deadlines.

:: The Source: JURIDICE.ro

Alexandra DOBRIȘAN

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