IFRS services - Mazars - Thailand

More than 100 countries on all five continents require or permit the use of International Financial Reporting Standards ('IFRS'). Major economies in Asia-Pacific, North America and Latin America have set out a time line towards the full adoption of IFRSs.

In Thailand, the Federation of Accounting Professionals (‘FAP’) and the Securities and Exchange Commission of Thailand (‘SEC’) have given a scheduled timeline for Stock Exchange of Thailand (‘SET”) listed companies to become fully compliant with Thai Accounting Standards (‘TAS’) adopted from IFRS. The top 50 companies listed on the SET (‘SET50’) are expected to comply for accounting periods beginning on or after 1 January 2011. SET100 companies will follow for accounting periods beginning on or after 1 January 2013 and finally all companies listed on the SET and the Market for Alternative Investment (‘MAI’) will need to comply for accounting periods beginning on or after 1 January 2015.

Companies should therefore plan according to the following timetable:

Whether you are already compliant or planning to adopt IFRS, Mazars can help you.

At Mazars, we have developed a comprehensive knowledge of IFRS. Our approach is practical and focused on the substance of the transactions. We always favour the economic view.