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NFRs

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As per the Notice published by ICAN:

The entities to which NFRSs shall be applicable and the financial year in which fully NFRSs complied Financial Statements to be prepared shall be as follows. However NFRS-9, Financial Instrument shall be applicable with effect from 16 July, 2015 onwards.


Type
Entities Requiring adoption of NFRS
NFRS Complied Financial Statements
A
1.  Listed Multinational Manufacturing Companies
2. Listed State Owned Enterprises (SOEs) with minimum paid up capital of Rs. 5 billions (except Banks and Financial Institutions under BAFIA  Act, 2006)

2014-15
B
 1. Commercial Banks, including State Owned Commercial Banks;
 2. All other Listed State Owned Enterprises (SOEs)
2015-16
C
  1.   All other Financial Institutions not covered under A & B above
  2.   All other SOEs
  3.   Insurance Companies
  4.   All other Listed Companies
  5.   All other Corporate Bodies/Entities not defined as SMEs or entities having borrowing with minimum of Rs. 500 million.

2016-17
D
 NFRS for SMEs  (SMEs as defined and classified by ASB)


While looking into present scenario NFRS for SMEs are postponed till 2074 Asadh for mandatory compliance.......
NFRS 9 is not yet not implemented by any corporates due to practical difficulties over data collection, analysis, estimation, and support from IT system......till further notice NFRS 9 not yet implemented..........!!!!!

You can download NFRS 1-NFRS 13 from link below:

2016-17


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