Industry-Specific Standards

CR – Nov 2016 – L3 – Q7b – Regulatory Environment for Corporate Reporting

Identify SAS standards that are still applicable in Nigeria post-IFRS adoption.

Question

Statements of Accounting Standards (SAS) in Nigeria have been replaced by International Financial Reporting Standards (IFRS); however, some local standards relating to industry-specific rules not found in IFRS are still expected to be applied by companies in relevant industries, provided they do not conflict with IFRS.

You are required to examine the above statement and identify those Statements of Accounting Standards that are still applicable after the adoption of IFRS. (5 Marks)

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Tags: IFRS Transition, Industry-Specific Standards, Nigerian Accounting Standards, SAS
Level: Level 3

Topic: Regulatory Environment for Corporate Reporting

Question Tag: Industry-Specific Standards

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CR – Nov 2016 – L3 – Q7b – Regulatory Environment for Corporate Reporting

Identify SAS standards that are still applicable in Nigeria post-IFRS adoption.

CR – Nov 2016 – L3 – Q7b – Regulatory Environment for Corporate Reporting

Identify SAS standards that are still applicable in Nigeria post-IFRS adoption.

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Question Tag: Industry-Specific Standards

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CR – Nov 2016 – L3 – Q7b – Regulatory Environment for Corporate Reporting

Identify SAS standards that are still applicable in Nigeria post-IFRS adoption.

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CR – Nov 2016 – L3 – Q7b – Regulatory Environment for Corporate Reporting

Identify SAS standards that are still applicable in Nigeria post-IFRS adoption.

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