On Sunday, 04-10-1445H corresponding to 12-05-2024, SOCPA hosted representatives from the International Accounting Standards Board (IASB). During the visit, a joint meeting was held with members of SOCPA’s Accounting Standards Board and key members of SOCPA. The meeting included a review and discussion of the latest updates to international standards, highlighting IFRS 18, which will replace IAS 1, and IFRS 19, which provides less detailed disclosures for subsidiaries not subject to public accountability. Several ongoing projects by the IASB were also reviewed.
This meeting reinforces the ongoing cooperation between SOCPA and the IASB in terms of standard-setting and application. SOCPA participates with the IASB in several international gatherings and is also responsible for the Arabic translation of the IASB’s publications.
1. 1. IFRS 18 - In-Depth Overview. Click
here.
2. Updates from the IASB. Click
here.