The Authority Holds a Meeting to Discuss the Requirements of International Financial Reporting Standard No. 18 and No. 19
الهيئة تعقد لقاء لمناقشة متطلبات المعيار الدولي للتقرير المالي رقم 18 ورقم 19
As part of implementing procedures for adopting International Financial Reporting Standards in the Kingdom, the Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by its Accounting Standards Board, held a roundtable meeting on 3 Jumada al-Akhirah 1446 AH, corresponding to December 4, 2024, with representatives of the International Accounting Standards Board to discuss the requirements of IFRS 18 "Presentation and Disclosure in Financial Statements" and IFRS 19 "Subsidiaries without Public Accountability: Disclosures". Participants included specialists and representatives of relevant supervisory bodies, and all core members of SOCPA were invited. SOCPA had previously published translations of the standards along with its Accounting Standards Board's preliminary recommendation on adopting them, and the Board will work to complete the adoption procedures for the two standards in the near future.
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