IFRS to local standard transition

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Sticky80
Posts: 3
Joined: 23 Jun 2021, 22:52

IFRS to local standard transition

Post by Sticky80 »

Hi guys,

Need some guidance as I'm unable to find the right information online.

Our company adopted the IFRS standards something like 20 years ago. Now, we are trying to transition from IFRS to our country´s local standars, which differ a lot from the IFRS standards.

Is there a specific IFRS standard about this particular circumstance?

Thanks for your help!
Cheers.
JRSB
Trusted Expert
Posts: 627
Joined: 01 Mar 2020, 01:10
Location: UK

Re: IFRS to local standard transition

Post by JRSB »

More likely you need to look at the local GAAP because that'll have transitional rules like IFRS does.
Student of IFRS.
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Marek Muc
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Posts: 1703
Joined: 15 Oct 2018, 17:21
Location: Warsaw, Poland

Re: IFRS to local standard transition

Post by Marek Muc »

yep, that should be dealt with by your local GAAP

BTW, why do you want to transition back to local GAAP?
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