Bishah to begin implementing IFRS on Jan. 1

28/08/2016 Argaam

Bishah Agriculture Development Co. is planning to adopt International Financial Reporting Standards (IFRS) under a new plan starting from January 1st, 2017, the company said in a statement to Tadawul.

 

The company has not hired an external advisor for the transition, as it has arranged for an internal team to handle the process.

 

 Bishah added that the first IFRS-based financial statements for Q1-2017 will be prepared by March 31, 2017.

 

The kingdom’s market regulator has recently called on Tadawul-listed firms to shift their accounting standards in line with IFRS.

 

The deadline for IFRS adoption has been set by the kingdom's Capital Market Authority (CMA) for January 1, 2017.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.