Dear Esteemed Chamber Subscribers,
May the peace, mercy, and blessings of Allah be upon you.
Asharqia Chamber extends its warmest greetings to you and would like to inform you that it has received the letter of the Federation of Saudi Chambers No. (45543439/19), dated (22/7/1447 AH), which refers to the letter of the Saudi Organization for Chartered and Professional Accountants No. ( 000583), dated (16/7/1447 AH), which includes the adoption of the amendment made by the International Accounting Standards Board to International Financial Reporting Standard (19) “Subsidiaries without Public Accountability: Disclosures.” This amendment aims to align the reduced disclosure requirements in that Standard with a number of amendments made to the International Financial Reporting Standards during the period from February 2021 to May 2024. The alignment process included reducing the disclosure requirements in this Standard compared with the disclosure requirements added during that period to a set of International Financial Reporting Standards (such as International Financial Reporting Standard No. (7), International Financial Reporting Standard No. (18), International Accounting Standard No. (7), International Accounting Standard No. (12), and International Accounting Standard No. (21).
A copy of the amendments can be viewed through the following link: (http://go.ac.sa/adj).
Please accept our sincere regards and appreciation.