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Saturday, May 11, 2024

Ministry preps steps to mitigate new standards

Krisada Chinavicharana

The Ministry of Finance is preparing to look for ways to help state-owned financial institutions which may be affected by the adoption of new financial reporting standards that are set to take effect in 2025, says permanent secretary Krisada Chinavicharana.

The 9th edition of the Thai Financial Reporting Standards (TFRS 9) will require state financial institutions to set more reserves than before which may affect their financial position,…

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