Financial companies and banks of Andorra will keep their accounting in accordance with International Financial Reporting Standards (IFRS) of the European Union since 2017

jordi-cinca-ifrs

The head of the Government of AndorraAntoni Martí Petit, signed a decree, according to which financial companies and banks in Andorra (Pyrenees) will keep their accounting in accordance with International Financial Reporting Standards (IFRS). The corresponding initiative was announced by the Minister of Finance Jordi Cinca.

The decree comes into force on 1st January 2017 and supersedes the previous decree of January 19, 2000, which previously defined the rules of the financial statements in Andorra.

Thus Andorra shows its intention to fully meet international financial reporting standards, reports the Government of Andorra.

See also Andorra business guide

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