Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by the Accounting Standards Council, participated in the first semiannual meeting for 2023 of the Emerging Economies Group (EEG) of the G20 affiliated with the International Accounting Standards Board (IASB), which was established by the International Council to discuss issues of accounting standards from the point of view of emerging economies in order to reach accounting standards that increase the level of transparency, accountability, and effectiveness of financial markets. The meeting was held virtually during the period 10-11 May 2023, and SOCPA was represented in this meeting by two members of the Accounting Standards Council, Mr. Ali bin Hassan Al-Basri, and Dr. Wafa Al-Nasrallah.
Discussion topics included:
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Amendments to the Classification and Measurement of Financial Instruments;
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Carbon Offset;
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Climate-related Risks in Financial Statements;
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Primary Financial Statements;
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Subsidiaries without Public Accountability: Disclosures;
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Business Combinations under Common Control;
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IASB Update
It is worth noting that SOCPA hosted the second semiannual meeting of the Emerging Economies Group from 2015 and 2022.
Meeting agenda and summary can be viewed by clicking here.
