• Register
Return to: Home > News > Regulation > Papua New Guinea newly reconstituted standards setter reiterates IFRS adoption

Papua New Guinea newly reconstituted standards setter reiterates IFRS adoption

Papua New Guinea has reconfirmed its adoption of IFRS and IFRS for SMEs as the national standards setter is reconstituted.

The Accounting Standards Board of Papua New Guinea (ASBPNG) was originally established by the Companies Act 1997 in 1998 and was formally reconstituted in May 2017 after inactivity for a period of more than nine years.  

At its first meeting last year, the ASBPNG reconfirmed the adoption of IFRS and IFRS for SMEs on a mandatory basis for listed companies and on voluntary basis for non-listed companies.

Top Content

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more

    FASB: a quest for simpler standards

    FASB chair Russell Golden addressed the IMA 2019 Annual Conference and Expo at the Sheraton San Diego Hotel and Marina, California, on 18 June. IMA immediate former chair-emeritus Alex Eng acted as moderator. Joe Pickard reports.

    read more

    The future of audit, and how to get there

    Two recent reports peer into the future of the audit profession. One analyses what an audit should offer, while the other looks at how the audit process will be carried out. Robin Amlôt takes a closer look at both.

    read more

    EFAA elects new president, focuses on digital future

    EFAA’s new president, Salvador Marin, outlined his key priorities for the next two years at the organisation’s 2019 annual general meeting, while outgoing president Bodo Richardt offered advice. Robin Amlôt reports.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.