Securities market price allowed to be used as fair value

KARACHI: Stock market listed companies have been allowed to use securities market price as fair value for making the financial statements for the period ending December 31, 2008.

Securities and Exchange Commission (SECP) said that the companies could use stock exchange listed securities’ market price as fair value for the financial statement made for the period ending December 31, 2008 and in the wake of it the profit or loss incurred would be resolved under IAS-39.

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