SOCPA Invites Interested Parties to Provide Their Views on the Implementation of a Number of IFRS
The Saudi Organization for Chartered and Professional Accountants would like to note that the International Accounting Standards Board issued a document requesting information regarding the application of a number of international financial reporting standards, namely Standard No. 10 “Consolidated Financial Statements”, Standard No. 11 “Joint Arrangements” and Standard No. 12 “Disclosure of Shares in Other Entities", For the purpose of reviewing it to solve any problems that may have arisen when applying those standards over the past years.
The IASB wants those with interest to express their views on the issues that have been identified, how to address them, and whether there are other issues related to the application of those standards.
SOCPA, represented by the Accounting Standards Committee, hopes to review the information request document referred to above and express an opinion on it, especially with regard to the environment of Saudi Arabia and the needs of the users of the financial statements for information. Please provide the views no later than 14/4/2021, and send it to the e-mail (osama@socpa.org.sa).
The document can be found on the IASB website (ifrs.org), Projects; Open for comment documents, by clicking here.