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Roadmap of Thai Financial Reporting Standards: Thai Financial Reporting Standards (”TFRS”) are currently translated and adopted according to International Financial Reporting Standards (“IFRS”). TFRS are based on IFRS latest bound volume with one year delay from the related IFRS effective date. Summary of TFRS are as follows;
| Thai Financial Reporting Standards (“TFRS”) | Effective date |
| Revised 2017 (announced in the Royal Gazette) | 1 Jan 2018 |
| Revised 2016 (announced in the Royal Gazette) | 1 Jan 2017 |
| Revised 2015 (announced in the Royal Gazette) | 1 Jan 2016 |
| Revised 2014 (announced in the Royal Gazette) | 1 Jan 2015 |
IFRS which have been published by International Accounting Standards Board (IASB) and Federation of Accounting Professions (“FAP”) are in the due process of studying and monitoring on draft of TFRS can be summarized as follows;
| IASB-Work Plan | Draft Thai Financial Reporting Standards | Expected Effective date |
| IAS 32 Financial Instruments: Presentation |
1 Jan 2020 |
|
| IFRS 7 Financial Instruments: Disclosures |
1 Jan 2020 |
|
| IFRS 9 Financial Instruments (See IASB-Work Plan) |
1 Jan 2020 |
|
| IFRIC 16 Hedges of a Net Investment in a Foreign Operation |
Draft TFRIC 16 Hedges of a Net Investment in a Foreign Operation |
1 Jan 2020 |
| IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments |
Draft TFRIC 19 Extinguishing Financial Liabilities with Equity Instruments |
1 Jan 2020 |
| IFRS 16 Leases (See IASB-Work Plan) |
1 Jan 2020 |
|
| IFRS 17 Insurance Contracts (See IASB-Work Plan) |
Draft TFRS 17 Insurance Contracts |
1 Jan 2023 |
| IFRS for SMEs (See IASB-Work Plan) |
(In process of reconsideration) |
|
| For the work plan project of the implementation of the International Financial Reporting Standards (“IFRS”) by International Accounting Standards Board (“IASB”), please see more detail as link >> (See IASB-Work Plan) | ||
Thai Financial Reporting Standards which are to be adapted by practioners in order to prepare the annual financial report are consisted of 3 parts which are,
