To adopt the latest version of each IFRS standard endorsed by the FSC in 2017, the FSC issued an order on July 18, 2016 to explain paragraph 2 of Article 3 of Regulations Governing the Preparation of Financial Reports by Securities Issuers. According to the order, International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), and Interpretations developed by the International Financial Reporting Interpretations Committee (IFRIC) or the former Standing Interpretations Committee (SIC) endorsed by the FSC refer to the version of IFRSs for ROC that take effect in 2017 and published in the “IFRSs Download” section on the website of the Securities and Futures Bureau. Public companies that have issued overseas depositary receipts or have submitted such applications to the FSC may adopt all standards issued by International Accounting Standards Board.