30/11/2021
Notification on the adoption of Bhutanese Accounting Standards (BAS) 2020
The Accounting & Auditing Standards Board of Bhutan (AASBB) as an authority for setting the Accounting and Auditing Standards in Bhutan would like to notify that the Bhutanese Accounting Standards (BAS) 2015 has been revised and approved by the Board during the 17th Board Meeting held on 19th October, 2021 as BAS 2020. This revised BAS 2020 shall come into effect from January 1, 2022 to be implemented by all relevant companies in Bhutan.
The revised BAS 2020 is based on the International Financial Reporting Standards (IFRS) and other publications issued by the International Accounting Standards Board (IASB) in 2020. However, IFRS 17, Insurance Contract is beyond the scope of BAS 2020.
The implementing agencies wishing to procure the print copy of the BAS 2020 are requested to send in your requisition before 10th December, 2021 to AASBB at [email protected]
