Filing and Packing Materials Manufacturing Co. (FIPCO) planning to adopt a plan in October to shift the company's accounting policies in line with International Financial Reporting Standards (IFRS).
The plan is set to be approved by the end of October, the company said in a statement to Tadawul on Sunday.
FIPCO hired an external advisor for the transition, while an internal team was appointed to supervise the process.
The company also said the transition was running smoothly, adding that the first IFRS-based financial statements for the first quarter of 2016 will be finalized by November 30.
Comments
{{DisplayName}}
{{ElapsedTime}}