FSC: Issuers can submit audited financial statements in accordance with national accounting standards for listing and ongoing disclosures
Article Published on May 13, 2021
In a circular issued by the Financial Services Commission (FSC) on 8 April 2021, issuers are informed that audited financial statements
prepared in accordance with the issuer’s national accounting standards, in compliance with its local generally accepted accounting
principles (‘local GAAP’), as applicable are now being accepted by the FSC. These accounting standards will be accepted for:
• the purpose of listing securities on securities exchanges licensed by the FSC; and
• foregoing disclosures as required under section 88 of the Securities Act and the Securities (Disclosure Obligation of Reporting
Issuers) Rules.
In the case of audited financial statements prepared in accordance with its national accounting standards being submitted by an issuer
incorporated, established or organised under the laws of a jurisdiction other than Mauritius, the following are required:
• the issuer must file its audited financial statements in compliance with its national accounting standard; and
• securities of the issuer shall not be offered to retail investors in Mauritius.
Read the circular from the FSC here
