SOCPA participated in IASB's Emerging Economies Group biannual meeting comprised of the G20 countries, held virtually during 11-12 May 2020. The meeting brought together representatives of G20 countries and IASB members . SOCPA was represented by Fahad Al Taimi, Chairman of the Accounting Standards Committee, and Abdulrahman Al Razeen, Assistant Secretary-General of Standards.
During the meeting, member states discussed a number of the IASB's ongoing projects. SOCPA's representatives presented two papers during the meeting, the first paper discussed measures taken by the government of Saudi Arabia, SOCPA, and related bodies to address Covid-19. SOCPA's guidance on the matter has also been discussed.
The second paper discussed the draft international community to improve the IFRS for SMEs, where SOCPA shared with meeting members their views on the appropriate approach to apply such standard.