IFRS Section - Doing Business
You will find here a series of summaries providing an overview of useful IFRS regulations, processes and IFRS issues for Doing Business in Thailand.
IFRS IC clarifies presentation rules for demand deposits with restrictions on use arising from a contract with a third party
In March 2022, the IFRS Interpretations Committee (IFRS IC) reached a final decision, ratified by the IASB in April and available here, on the presentation rules for demand deposits with restrictions on use arising from a contract with a third party.
IASB halts project on IAS 19 pension benefits that depend on asset returns
From 2018 to 2021, the IASB (International Accounting Standards Board) studied the feasibility of amending IAS 19 Employee Benefits to address pension benefits that depend on the returns on specified assets, such as shares or bonds.
Focus on some accounting consequences of the war in Ukraine and the sanctions against Russia
On 24 February 2022, Russia launched its invasion of Ukraine. The conflict has been unfolding for more than two months and the situation is changing daily, not only in military - and human - terms, but also in terms of economic sanctions against Russia.
Publication of IFRS Accounting Taxonomy 2022
On 24 March 2022, the IFRS Foundation published the IFRS Accounting Taxonomy 2022. It reflects IFRS standards published at 1 January 2022, including those that have not yet come into effect.
IPTF adds Turkey to list of hyperinflationary economies
On 16 March 2022, the International Practices Task Force (IPTF) of the Center for Audit Quality (CAQ) SEC Regulations Committee updated its document for discussion identifying countries that are considered to have hyperinflationary economies, originally published on 6 November 2021.