Approval of Amendments to the International Accounting Standard and the International Financial Reporting Standard
اعتماد تعديلات على المعيار الدولي للمحاسبة وعلى المعيار الدولي للتقرير المالي
The International Accounting Standards Board issued amendments to International Accounting Standard No. 21, with consequential amendments to IAS 29 and IFRS 19, to address a gap regarding translation procedures for financial statements when an entity's presentation currency is that of a hyperinflationary economy while its functional currency and that of a foreign operation are not, and vice versa. The Board also issued amendments to IFRS 19 aligning its reduced disclosure requirements with amendments made to other IFRS standards between February 2021 and May 2024, including IFRS 7, IFRS 18, IAS 7, IAS 12, and IAS 21. Per the Saudi Organization for Chartered and Professional Accountants' Accounting Standards Board working regulations, and finding no conflict with the local environment, the Board decided on 04-07-1447 AH corresponding to 24-12-2025 to approve applying these amendments in the Kingdom, with early application permitted.
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