Companies (GAAP) (Jersey) Order 2010

Official Consolidated Version

This is an official version of consolidated legislation compiled and issued under the authority of the Legislation (Jersey) Law 2021.

Showing the law from 1 April 2025 to Current

Companies (GAAP) (Jersey) Order 2010

Article

1             Interpretation. 3

2             Prescribed GAAP under Article 105(2)(a) of the Law.. 3

3             Citation. 4

Table of Legislation History. 5

Table of Renumbered Provisions. 5

Table of Endnote References. 5

Companies (GAAP) (Jersey) Order 2010

1        Interpretation

In this Order, “the Law” means the Companies (Jersey) Law 1991.

2        Prescribed GAAP under Article 105(2)(a) of the Law

(1)     For the purposes of Article 105(2)(a) of the Law, the generally accepted accounting principles prescribed for the preparation of any one set of accounts for a financial period starting on or after 5 April 2010 are any one of the following sets of principles and standards –

(a)     the Canadian Generally Accepted Accounting Principles (Canadian GAAP);

(b)     the Chinese Generally Accepted Accounting Principles (Chinese GAAP);

(c)     the Indian Generally Accepted Accounting Principles (Indian GAAP);

(d)     the International Financial Reporting Standards adopted by Regulation of the Commission of the European Communities, as that Regulation is in force from time to time;

(e)     the International Financial Reporting Standards issued by the International Accounting Standards Board;

(f)      the Japanese Generally Accepted Accounting Principles (Japanese GAAP);

(g)     the South Korean Generally Accepted Accounting Principles (South Korean GAAP);

(h)     the United Kingdom Generally Accepted Accounting Principles (UK GAAP);

(i)      the United States Generally Accepted Accounting Principles (US GAAP).[1]

(2)     For the purposes of Article 105(2)(a) of the Law, the generally accepted accounting principles prescribed for the preparation of any one set of accounts for a financial period starting on or after 1 April 2025 include, in addition to the ones listed in paragraph (1), the UK-adopted international accounting standards (UK IAS).[2]

3        Citation

This Order may be cited as the Companies (GAAP) (Jersey) Order 2010.

Endnotes

Table of Legislation History

Table of Renumbered Provisions

Table of Endnote References

There are currently no endnote references