What is the accounting standard used in Mauritius?

Mauritius takes the International Financial Reporting Standards (IFRS) as its official accounting standard. All companies registered in Mauritius, Global Business Companies included, are required to prepare and present financial statements in IFRS, as issued by the International Accounting Standards Board (IASB). This aligns the country's financial reporting with international standards, making it easier to improve transparency and investors' confidence.

The use of IFRS is mandatory for:

• Public companies
• Private companies with an annual turnover exceeding a specified threshold
• Entities regulated by the Financial Services Commission (FSC), such as management companies and investment firms

The companies are also obligated to appoint an auditor who is licensed in Mauritius to conduct independent audits in accordance with International Standards on Auditing (ISA). The audit ensures compliance with both IFRS and local regulatory requirements. Mauritius' adoption of IFRS illustrates that it is committed to maintaining high standards of corporate governance and financial integrity and is a solid jurisdiction for international business operations. 

=> Full Information: Accounting in Mauritius: Professional Services, Companies and Regulations