TUR GVT Forex in Financial Statements

On Jun. 5, TUR GVT issued decision on changes relating to IAS 21.

  • TUR GVT issued decision 75935942-050.01.04-[01/24468], May 30, 2024 of Public Oversight, Accounting and Auditing Standards Authority on Decree Law No 660/2011, in relation to amendments to IAS 21 Effects of changes in foreign exchange rates.
  • Follows IASB Aug. 2023 updated IAS 21 on non-exchangeable currency, see #182098.
  • Published amendments to Turkish Accounting Standards TMS 21 reflecting IASB changes to accounting requirements for when a currency is not exchangeable, IAS 21.
  • Effectiveness
  • Changes will apply from Jan. 2025, or annual reporting periods starting thereafter.

Regulators TUR GVT
Entity Types Auditor; Corp; Exch
Reference OG 32567, 6/5/2024; Dec 75935942-050.01.04-[01/24468], 5/30/2024; Decree Law 660/2011; IAS 21
Functions Accounting; Compliance; Financial; Reporting
Countries Turkey
Category
State
Products Corporate; Forex
Regions EMEA
Rule Type Final
Rule Date 6/5/2024
Effective Date 1/1/2025
Rule Id 214789
Linked to Rule :182098
Reg. Last Update 6/5/2024
Report Section International

Last substantive update on 06/07/2024