Tribune News Network
Doha
PwC’s Academy, the talent and skills development business of PwC Middle East, hosted its Annual International Financial Reporting Standards (IFRS) update in Qatar at the Pullman Hotel, Doha with a turnout of more than 200 professionals. IFRS are the world’s most widely applied accounting standards and are constantly evolving, requiring expert guidance to ensure compliance.
This annual seminar provided a timely update on the latest developments in IFRS and highlighted those most relevant to Qatar businesses.
Gavin Aspden, PwC Partner, PwC Academy Professional Development Head and IFRS Expert, discussed the application of existing standards in depth, while highlighting ongoing projects and other developments in corporate reporting in the region, covering the International Accounting Standards Board’s (IASB) technical agenda and relevant regulations.
The seminar further covered the impact of two new standards issued this year, including the IFRS18 Presentation and disclosure in financial statements, which is the eagerly awaited replacement of IAS 1, and the IFRS 19 subsidiaries without public accountability, which will significantly reduce the disclosure burden for eligible entities.PwC experts further discussed the latest developments in the adoption of International Sustainability Standards Board (ISSB) reporting requirements around general sustainability-related financial disclosures and climate-related disclosures.
Mark Menton, Qatar Assurance Lead, at PwC Middle East commented: “We are proud to have hosted the 12th Annual IFRS Update in Qatar, where financial professionals were able to delve into the practical implications of the latest IFRS developments.
With a focus on new standards, developments in the Qatar tax environment and international auditing standards, as well as the increasing importance of sustainability reporting, PwC’s Academy experts offered valuable insights to help businesses in Qatar navigate the evolving local and global financial landscape.”
“PwC’s Annual IFRS Seminar reinforces our firm’s commitment to supporting our clients across the region by equipping their workforce with the expertise required to navigate the opportunities and challenges of today’s dynamic financial and tax landscape.
The seminar in Qatar is part of a regional series that brings together finance professionals from diverse industries creating large-scale awareness and impact across the Middle East” said Gavin Aspden, Partner and PwC Academy Professional Development Head.
