Financial International Financial

Reporting Standards
Standards
Report

Bangladesh
June 2009

[Link]
 Financial Standards Report Bangladesh
June 2009

International Financial Reporting Standards

LEVEL OF COMPLIANCE: INTENT DECLARED

Summary to the Bangladeshi government which included, but were not

limited to, improving the accounting and auditing framework by
A 2003 World Bank review of the accounting and auditing
adopting international standards without any modifications and
environment in Bangladesh noted that national practices were
setting up an independent oversight body to enforce IFRSs and
not in line with internationally acceptable standards and
ISAs. It also recommended developing a simplified reporting
suffered from "institutional weaknesses in regulation,
framework for small and medium-sized entities (SMEs). At
compliance, and enforcement of standards and rules." The
the time of the World Bank assessment, only 16 Bangladesh
World Bank therefore recommended improving the
Accounting Standards (BASs) existed.
accounting and auditing framework by adopting International
Financial Reporting Standards (IFRSs) without any
According to the IAS Plus website, as of July 2007, Bangladesh
modifications and setting up an independent oversight body
adopted 31 IFRSs as BASs and Bangladesh Financial Reporting
for enforcing international standards. As part of its efforts
Standards (BFRSs). However, these national standards are
towards convergence, per Deloitte IAS Plus website, as of
modified to reflect local legal requirements and are based
2007 the Institute of Chartered Accountants of Bangladesh
on an older version of IFRSs. The South Asian Federation
(ICAB) adopted 31 IFRSs as Bangladesh Accounting Standards.
of Accountants (SAFA) conducted a comparative analysis of
These standards, however, are based on an older version of
national standards with IFRSs for five South Asian countries,
IFRSs. In 2008, according to the ICAB website, Bangladesh
including Bangladesh. In this analysis the SAFA concluded that
adopted an additional four new IFRSs. The national standards
"[in Bangladesh] while formulating the Accounting Standards,
are mandatory for all listed companies and recommended
the Technical and Research Committee of the Council of the
for other entities. In a 2009 ICAB Action Plan, the Institute
Institute tries to integrate the International Accounting
reiterates its commitment to convergence and makes clear
Standards (IAS) with the local laws, conditions and practices.
that it will be adopting international standards on an ongoing
During the process of revision of existing Accounting
basis. The ICAB Action Plan also adds that it is in the process
Standards, all-out efforts are being made to narrow down (and,
of reviewing its educational requirements and strategies with
if possible, eliminate) differences with the corresponding IAS"
regard to IFRS dissemination and training.
(p. 14). The 2007 self-assessment prepared by the Institute of
Chartered Accountants of Bangladesh (ICAB) confirmed that
General Overview Bangladesh adopted international standards with adaptations to
The World Bank's review of the accounting and auditing ensure compatibility with the national legal environment and
environment in Bangladesh led to the publication of a Report relevance with regard to applicability in the national context.
on the Observance of Standards and Codes (ROSC) in May According to the SAFA report, BASs are mandatory for listed
2003. International Financial Reporting Standards (IFRSs) companies and are recommended for all other entities.
(formerly known as International Accounting Standards, or
IASs) and International Standards on Auditing (ISAs) were used Furthermore, in a 2009 ICAB Action Plan prepared as part
as the benchmarks for assessing national standards. As pointed of the International Federation of Accountants' Member Body
out in the report, Bangladeshi accounting and auditing practices Compliance Program, the ICAB reiterated its commitment
were not in line with internationally acceptable standards and to international harmonization of accounting standards. Per
suffered from "institutional weaknesses in regulation, the Plan, the ICAB continues to maintain the convergence
compliance, and enforcement of standards and rules" (cover process by “adopting /updating IFRS/IAS as BFRS/BAS” (p.
page). The World Bank consequently made recommendations 19). In November 2008, the ICAB started a sectoral-based

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 Financial Standards Report Bangladesh
June 2009

review of the local financial reporting environment in order to insurance sector. However, the World Bank noted that both
identify existing and potential hindrances to the adoption and the Banking Act and the Insurance Act do not mandate the
implementation of IFRSs. The review is likely to be finalized use of BASs or IFRSs. Moreover, the World Bank pointed that
in June 2009 and the ICAB plans to analyze and implement "accounting and disclosure requirements under the Insurance
the recommendations by 2010. In July 2009, the ICAB also Act lead to significant deviations from IAS requirements" (p. 8).
plans to review regulatory and other requirements for the
implementation of IFRSs for SMEs. Established by Bangladesh Chartered Accountants Order of
1973, the ICAB is the national accounting and auditing
According to the description of the legal framework provided standard-setter and regulator of the accounting profession.
on the Deloitte IAS Plus website, the Companies Act of 1994 Although the ICAB does not have a legal mandate for setting
provides basic requirements for financial reporting by all accounting standards, it has a standard-setting committee
companies in Bangladesh. However, the Act is silent about which, according to the World Bank, "selects particular IAS
either BASs or IFRSs. Furthermore, the World Bank report as the basis for drafting BAS" (p. 6). The World Bank
noted that that some accounting requirements specified in recommended strengthening the capacity of the ICAB and
the Act were incompatible with international standards and improving professional education and training arrangements.
"the formats for presentation of financial statements and The ICAB and the Institute of Cost and Management
requirements on disclosures prescribed in the Act need Accountants of Bangladesh are listed as members on the
updating or removing" (p. 1). The enforcement of the International Federation of Accountants website. The ICAB
provisions of the Companies Act is conducted by the Office is also a member of the SAFA and the Confederation of
of the Registrar of Joint Stock Companies (RJSC). However, Asian and Pacific Accountants. Per the 2009 ICAB Action
the World Bank noted that the "RJSC has no technical capacity Plan, the Institute is in the process of reviewing its educational
to identify accounting and auditing violations; in most cases it requirements and strategies with regard to IFRS dissemination
does not even enforce timely filing of annual audited financial and training. Furthermore, the 2009 ICAB Action Plan notes
statements" (p. 6). that the Institute adopted the IFAC Code of Ethics as an ICAB
Standard of Professional Practice in January 2009.
The Securities and Exchange Commission of Bangladesh
regulates financial reporting by listed companies and requires Principle: IFRS 1: First-time
compliance with IASs/IFRSs as adopted in Bangladesh i.e. BASs.
However, the World Bank assessment pointed out that even
Adoption of International Financial
though the SEC was working towards improving the quality of Reporting Standards (effective 2010)
financial reporting, it lacked trained staff to monitor compliance [Insufficient Information]
with the specified requirements. The Bangladesh Bank regulates
the banking sector and, empowered by the Companies Act According to the ICAB website, IFRS 1 was adopted as BFRS in
and the Bank Companies Act of 1991, sets accounting and April 2008. However, there is no further information as to the
auditing requirements. According to the IAS Plus website, "the extent of compliance of BASs/BFRSs with the corresponding
Bank Company Act of 1991 mandates reporting formats and international standard.
disclosure based on BAS 30, which is similar to IAS 30."
However, IAS 30 was replaced by IFRS 7 in 2005 and the Principle: IFRS 2: Share-based
latter was adopted in Bangladesh in July 2008. The World Bank Payment (effective 2010)
also pointed out that "the banking regulator has no mechanism
[Insufficient Information]
to monitor and enforce accounting and financial reporting
requirements" (p. 7). The Bangladesh Bank also regulates According to the 2007 IAS Plus Update and the SAFA
nonbanking financial institutions. Governed by the Insurance comparison, IFRS 2 (effective 2005) was adopted as Bangladesh
Act of 1938, the Chief Controller of Insurance regulates the standard in July 2006 and has been effective from January

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 Financial Standards Report Bangladesh
June 2009

2007. However, there is no further information as to the According to the 2007 IAS Plus Update and the SAFA
extent of compliance of BASs/BFRSs with the corresponding comparison, IFRS 6 (effective 2006) was adopted as Bangladesh
international standard. standard in July 2006 and has been effective from January
2007. However, there is no further information as to the
Principle: IFRS 3: Business extent of compliance of BASs/BFRSs with the corresponding
Combinations (effective 2010) international standard.

[Insufficient Information]
Principle: IFRS 7: Financial
According to the 2007 IAS Plus Update and the SAFA Instruments: Disclosures (effective
comparison, IFRS 3 (effective 2004) was adopted as Bangladesh 2009)
standard in December 2005 and has been effective from
[Insufficient Information]
January 2007. However, there is no further information as
to the extent of compliance of BASs/BFRSs with the According to the ICAB website, IFRS 7 was adopted as BFRS
corresponding international standard. in July 2008. However, there is no further information as to the
extent of compliance of BASs/BFRSs with the corresponding
Principle: IFRS 4: Insurance international standard.
Contracts (effective 2006)
[Insufficient Information] Principle: IFRS 8: Operating
Segments (effective 2010)
According to the ICAB website, IFRS 4 was adopted as BFRS
[Insufficient Information]
in October 2008. However, there is no further information
as to the extent of compliance of BASs/BFRSs with the According to the 2007 IAS Plus Update and the SAFA
corresponding international standard. comparison, IAS 14 (effective 1998) was adopted as BAS
in July 2003 and has been effective from January 2004. The
Principle: IFRS 5: Non-current Assets ICAB website notes that IFRS 8 was adopted as BFRS in April
Held for Sale and Discontinued 2008. However, there is no further information as to the
Operations (effective 2010) extent of compliance of BASs/BFRSs with the corresponding
international standard.
[Insufficient Information]

According to the 2007 IAS Plus Update and the SAFA Principle: IAS 1: Presentation of
comparison, IFRS 5 (effective 2005) was adopted as Bangladesh Financial Statements (effective 2010)
standard in December 2005 and has been effective from [Insufficient Information]
January 2007. However, there is no further information as
to the extent of compliance of BASs/BFRSs with the According to the 2007 IAS Plus Update and the SAFA
corresponding international standard. comparison, IAS 1 (effective 2005) was adopted as BAS in July
2006 and has been effective from July 2006. However, there is
Principle: IFRS 6: Exploration for and no further information as to the extent of compliance of BASs/
Evaluation of Mineral Resources BFRSs with the corresponding international standard.

(effective 2006)
Principle: IAS 2: Inventories (effective
[Insufficient Information]
2005)
[Insufficient Information]

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 Financial Standards Report Bangladesh
June 2009

According to the 2007 IAS Plus Update and the SAFA According to the 2007 IAS Plus Update and the SAFA
comparison, IAS 2 (effective 2005) was adopted as BAS in July comparison, IAS 11(effective 1995) was adopted as BAS in
2006 and has been effective from July 2006. However, there is January 1990 and became effective from January 1999.
no further information as to the extent of compliance of BASs/ However, there is no further information as to the extent
BFRSs with the corresponding international standard. of compliance of BASs/BFRSs with the corresponding
international standard.
Principle: IAS 7: Cash Flow
Statements (effective 2010) Principle: IAS 12: Income Taxes
[Insufficient Information] (effective 2001)
[Insufficient Information]
According to the 2007 IAS Plus Update and the SAFA
comparison, IAS 7 (effective 1994) was adopted as BAS in According to the 2007 IAS Plus Update and the SAFA
January 1986 and became effective from January 1994. comparison, IAS 12 (effective 2001) was adopted as BAS
However, there is no further information as to the extent in January 1990 and became effective from January 1998.
of compliance of BASs/BFRSs with the corresponding However, there is no further information as to the extent
international standard. of compliance of BASs/BFRSs with the corresponding
international standard.
Principle: IAS 8: Accounting Policies,
Changes in Accounting Estimates Principle: IAS 16: Property, Plant and
and Errors (effective 2005) Equipment (revised 2009)
[Insufficient Information] [Insufficient Information]

According to the IAS Plus website Update of August 2007, According to the 2007 IAS Plus Update and the SAFA
the latest version of IAS 8 was adopted as BAS in July 2006 comparison, IAS 16 (effective 2006) was adopted as BAS in
and has been effective ever since. However, there is no further July 2006 and has been effective ever since. However, there is
information as to the extent of compliance of BASs/BFRSs with no further information as to the extent of compliance of BASs/
the corresponding international standard. BFRSs with the corresponding international standard.

Principle: IAS 10: Events after the Principle: IAS 17: Leases (effective
Reporting Period (effective 2005) 2010)
[Insufficient Information] [Insufficient Information]

According to the 2007 IAS Plus Update and the SAFA According to the 2007 IAS Plus Update and the SAFA
comparison, IAS 10 (effective 2005) was adopted as BAS in comparison, IAS 17 (effective 2005) was adopted as BAS in
July 2006 and has been effective ever since. However, there is July 2006 and has been effective ever since. However, there is
no further information as to the extent of compliance of BASs/ no further information as to the extent of compliance of BASs/
BFRSs with the corresponding international standard. BFRSs with the corresponding international standard.

Principle: IAS 11: Construction Principle: IAS 18: Revenue (effective

Contracts (effective 1995) 1995)
[Insufficient Information] [Insufficient Information]

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 Financial Standards Report Bangladesh
June 2009

According to the 2007 IAS Plus Update and the SAFA Principle: IAS 23: Borrowing Costs
comparison, IAS 18 (effective 1995) was adopted as BAS (revised 2009)
in January 1993 and became effective from January 1995.
[Insufficient Information]
However, there is no further information as to the extent
of compliance of BASs/BFRSs with the corresponding
According to the 2007 IAS Plus Update and the SAFA
international standard.
comparison, IAS 23 (effective 1995) was adopted as BAS in
July 2006 and has been effective ever since However, there is
Principle: IAS 19: Employee Benefits no further information as to the extent of compliance of BASs/
(revised 2009) BFRSs with the corresponding international standard.
[Insufficient Information]
Principle: IAS 24: Related Party
According to the 2007 IAS Plus Update and the SAFA Disclosures (effective 2005)
comparison, IAS 19 (effective 2006) was adopted as BAS in
[Insufficient Information]
July 2003 and became effective from January 2004. However,
there is no further information as to the extent of compliance
According to the 2007 IAS Plus Update and the SAFA
of BASs/BFRSs with the corresponding international standard.
comparison, IAS 24 (effective 2006) was adopted as BAS in
July 2006 and has been effective ever since. However, there is
Principle: IAS 20: Accounting for no further information as to the extent of compliance of BASs/
Government Grants and Disclosure BFRSs with the corresponding international standard.
of Government Assistance (revised
2009) Principle: IAS 26: Accounting and
[Insufficient Information] Reporting by Retirement Benefit
Plans (effective 1998)
According to the 2007 IAS Plus Update and the SAFA
[Insufficient Information]
comparison, IAS 20 (effective 1984) was adopted as BAS in
November 1998 and became effective from January 1999. According to the 2007 IAS Plus Update and the SAFA
However, there is no further information as to the extent comparison, IAS 26 (effective 1998) was adopted as BAS in
of compliance of BASs/BFRSs with the corresponding July 2003 and became effective from January 2004. However,
international standard. there is no further information as to the extent of compliance
of BASs/BFRSs with the corresponding international standard.
Principle: IAS 21: The Effects of
Changes in Foreign Exchange Rates Principle: IAS 27: Consolidated and
(effective 2005) Separate Financial Statements
[Insufficient Information] (effective 2010)
[Insufficient Information]
According to the 2007 IAS Plus Update and the SAFA
comparison, IAS 21(effective 2006) was adopted as BAS in July According to the 2007 IAS Plus Update and the SAFA
2006 and has been effective ever since. However, there is no comparison, IAS 27 (effective 2005) was adopted as BAS in
further information as to the extent of compliance of BASs/ July 2006 and has been effective ever since. However, there is
BFRSs with the corresponding international standard. no further information as to the extent of compliance of BASs/
BFRSs with the corresponding international standard.

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 Financial Standards Report Bangladesh
June 2009

Principle: IAS 28: Investments in According to the 2007 IAS Plus Update and the SAFA
Associates (revised 2009) comparison, IAS 33 (effective 2005) was adopted as BAS in
July 2006 and has been effective ever since. However, there is
[Insufficient Information]
no further information as to the extent of compliance of BASs/
BFRSs with the corresponding international standard.
According to the 2007 IAS Plus Update and the SAFA
comparison, IAS 28 (effective 2005) was adopted as BAS in
July 2006 and has been effective ever since. However, there is Principle: IAS 34: Interim Financial
no further information as to the extent of compliance of BASs/ Reporting (effective 1999)
BFRSs with the corresponding international standard. [Insufficient Information]

Principle: IAS 29: Financial Reporting According to the 2007 IAS Plus Update and the SAFA
in Hyperinflationary Economies comparison, IAS 34 (effective 1994) was adopted as BAS in
December 1998 and has been effective since January 1999.
(revised 2009) However, there is no further information as to the extent
[No Compliance] of compliance of BASs/BFRSs with the corresponding
international standard.
According to the IAS Plus website update of August 2007, IAS
29 has not been adopted.
Principle: IAS 36: Impairment of
Principle: IAS 31: Interests in Joint Assets (revised 2009)
Ventures (revised 2009) [Insufficient Information]

[Insufficient Information] According to the 2007 IAS Plus Update and the SAFA
comparison, IAS 36 (effective 2004) was adopted as BAS and
According to the 2007 IAS Plus Update and the SAFA
became effective from January 2004. However, there is no
comparison, IAS 31(effective 2005) was adopted as BAS in July
further information as to the extent of compliance of BASs/
2006 and has been effective ever since. However, there is no
BFRSs with the corresponding international standard.
further information as to the extent of compliance of BASs/
BFRSs with the corresponding international standard.
Principle: IAS 37: Provisions,
Principle: IAS 32: Financial Contingent Liabilities and Contingent
Instruments: Disclosure and Assets (effective 1999)
Presentation (effective 2010) [Insufficient Information]

[No Compliance] According to the 2007 IAS Plus Update and the SAFA
comparison, IAS 37(effective 1999) was adopted as BAS in
According to the IAS Plus website update of August 2007, IAS
December 2003 and has been effective since January 2004.
32 has not been adopted.
However, there is no further information as to the extent
of compliance of BASs/BFRSs with the corresponding
Principle: IAS 33: Earnings per Share international standard.
(effective 2005)
[Insufficient Information] Principle: IAS 38: Intangible Assets
(effective 2010)
[Insufficient Information]

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 Financial Standards Report Bangladesh
June 2009

According to the 2007 IAS Plus Update and the SAFA Institute of Chartered Accountants of Bangladesh, "Response to the IFAC
comparison, IAS 38 (effective 2006) was adopted as BAS and Part 2, SMO Self-Assessment Questionnaire," Self-assessment prepared as
a part of the International Federation of Accountants' Member Body
became effective from January 2005. However, there is no Compliance Program, March 2007. Available from International Federation
further information as to the extent of compliance of BASs/ of Accountants website. Accessed on June 3, 2009. (ICAB 2007)
[Link]
BFRSs with the corresponding international standard.
Institute of Chartered Accountants of Bangladesh, “Action Plan Developed
by the Institute of Chartered Accountants of Bangladesh,” prepared as part
Principle: IAS 39: Financial of the International Federation of Accountants' Member Body Compliance
Program, April 2009. Available from International Federation of
Instruments: Recognition and Accountants' website. Accessed on June 2, 2009. (ICAB 2009)
[Link]
Measurement (effective 2010)
Institute of Chartered Accountants of Bangladesh website. Accessed on
[No Compliance] June 3, 2009. (ICAB website)
[Link]
According to the IAS Plus website Update of August 2007, IAS South Asian Federation of Accountants, "Accounting Standards vis-à-vis
39 has not been adopted yet and is under ICAB review. IAS/IFRS & Standard Setting Process - A Comparative Analysis," n.d.
Available from Institute of Chartered Accountants of Sri Lanka website.
Accessed on June 3, 2009. (SAFA n.d.)
Principle: IAS 40: Investment [Link]

Property (effective 2009) World Bank, "Bangladesh: Report on the Observance of Codes and
Standards: Accounting and Auditing," May 2003. Available from World
[Insufficient Information] Bank website. Accessed on June 3, 2009. (WB 2003)
[Link]
According to the 2007 IAS Plus Update and the SAFA
comparison, IAS 40 (effective 2005) was adopted as BAS in Relevant Organizations
July 2006 and has been effective ever since. However, there is Bangladesh Bank (BB)
no further information as to the extent of compliance of BASs/ [Link]
BFRSs with the corresponding international standard. Chittagong Stock Exchange (CSE)
[Link]

Principle: IAS 41: Agriculture Dhaka Stock Exchange (DSE)

[Link]
(effective 2009)
Institute of Chartered Accountants of Bangladesh (ICAB)
[Insufficient Information] [Link]

Institute of Cost and Management Accountants of Bangladesh (ICMAB)

According to the 2007 IAS Plus Update and the SAFA [Link]
comparison, IAS 41(effective 2003) was adopted as BAS in July
Ministry of Finance (MoF)
2006 and has been effective ever since. However, there is no [Link]
further information as to the extent of compliance of BASs/
Office of Chief Controller of Insurance, Department of Insurance, Ministry
BFRSs with the corresponding international standard. of Commerce (OCCI)
[Link]

Sources of Assessment Office of the Registrar of Joint Stock Companies (RJSC)

[Link]
Deloitte & Touche Tohmatsu IAS Plus website. Accessed on June 3, 2009.
Securities and Exchange Commission (SEC)
(Deloitte IAS Plus website)
[Link]
[Link] [Link]
South Asian Federation of Accountants (SAFA)
Institute of Chartered Accountants of Bangladesh, "Assessment of the
[Link]
Regulatory and Standard-Setting Framework," Self-assessment prepared as
a part of the International Federation of Accountants' Member Body
Compliance Program, August 2005. Available from International Federation
of Accountants website. Accessed on June 3, 2009. (ICAB 2005)
[Link]

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 Financial Standards Report Bangladesh
June 2009

Relevant Legislation/Regulation Insurance Act No. VI, 1938 (repealed by Insurance Ordinance No. 47,
2008)
Bangladesh Chartered Accountants Order,1973 (as updated and [Link]
amended)
List of Bangladesh Accounting Standards/Bangladesh Financial Reporting
[Link]
Standards
Banking Companies Act No. 13, 1993 [Link]
[Link]
Securities and Exchange Commission Act No. 15, 1993
Banking Companies Amendment Act No. 14, 1991 [Link]
[Link]
Securities and Exchange Commission Rules, 1987
Banking Companies Act No. 25, 1995 [Link]
[Link]

Chittagong Stock Exchange Rule and Regulations Supplementary Sources

[Link]
Asian Development Bank, “Technical Assistance Loan Improvement to
Companies Act No. 18, 1994 Capital Market and Insurance,” Project Number: BAN 36197, March 2008.
[Link] Available from Asian Development Bank website. Accessed on June 3,
2009. (ADB 2008)
Co-operative Societies Ordinance, 1984 Code of Ethics, 2004
[Link]
[Link]
International Federation of Accountants website. Accessed on June 3,
Finance Institution Act No. 27, 1993
2009. (IFAC website)
[Link]
[Link]

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 Financial Standards Report Bangladesh
June 2009

Methodology Note
For a more thorough discussion of our methodology, please FULL COMPLIANCE: There is publicly available
visit our website. Below you find an explanation of qualifying information indicating that the country has incorporated the
criteria for information used in eStandardsForum's standard principles of the relevant standard into laws or regulations, and
reports as well as a definition of the Levels of Compliance. that these principles are currently being applied and followed
in an effective, consistent, and transparent manner.
Sources
COMPLIANCE IN PROGRESS: There is publicly available
Sources used in this report are information that is objective
information indicating that the country has incorporated the
and freely available to the public that pertain to a country's
principles of the relevant standard into laws or regulations and
compliance with the requirements of any given standard. The
that there has been significant progress made towards the
defining characteristics of eStandardsForum's sources are
effective enforcement of the laws or regulations by regulators
public availability and objectivity. For example, third-party
and supervisors, albeit with minor shortcomings.
assessments of a country will take precedence over
selfassessments. Nevertheless, in the absence of third-party ENACTED: There is publicly available information indicating
assessments, self-assessments form an important source of that the country has incorporated most of the principles of
information. the relevant standard into laws or regulations. The Enacted
category does not address the actual enforcement of the laws
Levels of Compliance or regulations.
The compliance categories assess information on two levels.
INTENT DECLARED: The country has made a formal,
On the first level, it measures the public availability of
public, and authoritative declaration that it will incorporate the
information on a country's compliance with the 12 Key
principles of the relevant standard into laws or regulations and
Standards. If the level of information is unsatisfactory, a rating of
will adhere to the standard.
"Insufficient Information" is assigned. If the level of information
is deemed sufficient, a rating ranging from "No Compliance"
NO COMPLIANCE: There is publicly available information
to "Full Compliance" is assigned, depending on how well the
indicating that the country has not incorporated the principles
publicly available sources have evaluated the country's
of the relevant standard into laws or regulations or has taken
regulatory framework for the respective standard. These
any steps to comply with the relevant standard.
particular categories have been selected because they mirror
the process a country follows when implementing standards INSUFFICIENT INFORMATION: There is not enough
and codes. information publicly available to make an assessment as to the
country's level of compliance with the relevant standard.

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