21 March 2012: South Africa standard-setting arrangements change, ‘SA GAAP’ to be discontinued
Posted by mostafa on 21 March, 2012
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Standard setting arrangements in South Africa are undergoing change, with the South African Accounting Practices Board (APB) to be wound up and its functions effectively transferred to the recently created Financial Reporting Standards Council (FRSC). As part of the changes, the use of South African Statements of Generally Accepted Accounting Practice (SA GAAP) is to be discontinued.