ORDER OF THE GOVERNMENT OF THE REPUBLIC OF MOLDOVA

of February 29, 2008 No. 238

About application of International accounting standards in the territory of the Republic of Moldova

In pursuance of provisions of Items b) - c) parts (1) Article 11 and parts (1) and (2) article 47 of the Law on financial accounting No. 113-XVI of April 27, 2007. (The official monitor of the Republic of Moldova, 2007, Art. No. 90-93, 399), and also for ensuring application of international accounting standards in the territory of the Republic of Moldova and further development of the financial accounting Government DECIDES:

1. To subjects of public interest to apply the International Financial Reporting Standard 1 "Initial adoption of International Financial Reporting Standards", since January 1, 2011, with ensuring application during the subsequent accounting periods of the International Financial Reporting Standards issued by Council for International accounting standards.

2. Before application of International accounting standards to subjects of public interest to perform financial accounting and to constitute the financial reporting according to National accounting standards.

3. Equip the Ministry of Finance with functions on:

to initiation of negotiations with Council for International standards on financial accounting concerning acceptance and implementation of International accounting standards in the Republic of Moldova;

to updating of International accounting standards;

to publication of International accounting standards in the Official monitor of the Republic of Moldova and to their placement on the official page of the Government and Ministry of Finance on the Internet;

to further publication of new or updated standards;

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