Brunei Darussalam Accounting Standards Council (BDASC) announced that His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam has consented to the adoption of Brunei Darussalam Accounting Standards (BDAS) issued by BDASC for all non-public interest entities in Brunei Darussalam, with effect from January 1, 2018, according to a press release.
The main objective of the standards is to ensure higher level of uniformity and consistency in financial reporting among all non-public interest entities in Brunei Darussalam.
More details in Thursday’s Borneo Bulletin.
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