Deferred Application of IFRIC 15 in PFRS

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SEC Notice: Deferred Application of IFRIC 15 in PFRS

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Title Source: Supreme Court: Deferred Application of IFRIC 15 in PFRS

Law: Sec

Decision Date: Dec 5, 2008

The Commission En Banc has deferred the mandatory application of IFRIC Interpretation No. 15 on Agreements for the Construction of Real Estate for three years, allowing its implementation starting January 1, 2012, while permitting earlier application and outlining transitory requirements for compliance with Philippine Financial Reporting Standards.

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