Tajikistan

Accounting and reporting requirements

In accordance with the governmental Resolution of the Republic of Tajikistan concerning International Standards of Financial Statements, the Ministry of Finance of the Republic of Tajikistan shall adopt IFRS through a step-by-step approach. Starting from 2011, juridical legal entities should apply IFRS; however, National Accounting Standards may still be applicable by companies, except for public companies.

Accounting policies and practices are being revised in light of the legal requirement that companies adopt IFRS and International Accounting Standards. Such revised accounting policies should be adopted by companies’ boards of directors and disseminated to all the accounting units with clear instructions on how to introduce and follow the new policies and procedures.