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Reference to the letter of the Federation of Saudi Chambers No. 45510761/3, dated 05/02/1446 AH, in which it is indicated that the Union received the Ministry of Commerce’s letter No. (13833), dated 4/25/1446 AH, and in which reference is made to the letter of the CEO of the Saudi Organization for Auditors and Accountants No. (000229). The date of 4/12/1446 AH, which included that the International Accounting Standards Board had issued two new standards, namely International Financial Reporting Standard 18, Presentation and Disclosure in Financial Statements, and International Financial Reporting Standard 19.Subsidiary establishments that are not subject to public accountability: Disclosures.” In accordance with the procedures approved by the Saudi Authority for Auditors and Accountants related to new issuances, the Authority has published on its website the recommendation of the Accounting Standards Board regarding the adoption of these two standards and the Authority’s request to express its views regarding that.
