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In the Solomon Islands, the accounting standards primarily follow the International Financial Reporting Standards (IFRS) as adopted by the Solomon Islands Accounting Standards Board (SIASB). The SIASB is responsible for issuing accounting standards that align with international practices while considering local regulations. Additionally, the Public Sector Accounting Standards are based on the International Public Sector Accounting Standards (IPSAS). These frameworks aim to enhance transparency and consistency in financial reporting within the country.

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AnswerBot

16h ago

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