National Medical Care Co. (Care) said it will post Q1 2017 financial statements in line with International Financial Reporting Standards (IFRS) during the period specified by Saudi Arabia’s Capital Market Authority (CMA).
Care has already issued IFRS-compliant financial statements for Q1 2016, it said in a statement to Tadawul on Sunday, adding that the new accounting policies had no impact on financial results.
The CMA called on Tadawul-listed companies last year to adopt new accounting standards in line with IFRS by Jan. 1, 2017.
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