Convergence is topic at Saudi Arabia conference

12/30/2013 | Saudi Gazette

There are no conflicts between Saudi Accounting Standards and International Financial Reporting Standards, but the Saudi Organization for Certified Public Accountants "may require additional disclosures to be presented in the financial statements, in case local regulations need supplementary data," said Ahmad Bin Abdulla Al-Meghames, the organization's secretary-general. IFRS is expected to be implemented in Saudi Arabia starting in 2017.

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