News
Representatives of the IASB and SOCPA meet to discuss progress towards IFRS adoption
20-Nov-2012
Representatives of the International Accounting Standards Board (IASB) and the Saudi Organization of Certified Public Accountants (SOCPA) met on 24th October in London to discuss progress towards the adoption of International Financial Reporting Standards (IFRSs) in the Kingdom of Saudi Arabia. The discussions were led by Mr. Yousef Al-Mobarak, Board Member of SOCPA and Mr. Gihad Al-Amri, Chairman of Saudi Accounting Standards Committee. The meeting took place at the same time as the IASB’s World Standard-Setters conference – an annual gathering of the worldwide accounting standard-setting community.
Commenting on the meeting, Ian Mackintosh, Vice-Chairman of the IASB said:
"Saudi Arabia is a leading regional economy as well as being an important member of the G20. We are extremely pleased to note the progress Saudi Arabia is making towards the adoption of IFRS. We have undertaken to help them in any way we can and we look forward to welcoming them into the family of IFRS adopters."