IFRS

The implementation of IFRS Standards in Afghanistan is a complex but critical element that will boost economic development, anti-corruption efforts and tax take alike.

As part of its plan for sustainable economic development, Afghanistan is implementing international accounting and auditing standards. The country’s accountancy profession has very ambitious plans, but given severe capacity constraints it will be some years before international standards are the norm there.

IFRS Standards address this challenge by providing a high quality, internationally recognized set of accounting standards that bring transparency, accountability and efficiency to financial markets around the world.

IFRS Standards bring transparency by enhancing the international comparability and quality of financial information, enabling investors and other market participants to make informed economic decisions.

IFRS Standards strengthen accountability by reducing the information gap between the providers of capital and the people to whom they have entrusted their money. Our Standards provide information that is needed to hold management to account. As a source of globally comparable information, IFRS Standards are also of vital importance to regulators around the world.

And IFRS Standards contribute to economic efficiency by helping investors to identify opportunities and risks across the world, thus improving capital allocation. For businesses, the use of a single, trusted accounting language lowers the cost of capital and reduces international reporting costs.