IASB Chairman speaks on Saudi Arabia’s vision

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07 Mar 2017

At an event hosted by the Saudi Organization for Certified Public Accountants (SOCPA) and the Institute of Chartered Accountants in England and Wales (ICAEW), IASB chairman Hans Hoogervorst spoke about the accounting profession, IFRS, and the connection to Saudi Arabia’s Vision 2030.

Mr Hoogervorst began by describing some of the changes that have occurred in the financial world over the past 25 years and how Saudi Arabia is positioned to help shape the future. He commented that the accounting profession works in the public interest and plays a vital role in fostering trust. Through the use of IFRS, information on a company becomes more comparable in the global community. He noted that by requiring the use of IFRS, Saudi Arabia will become more attractive to international investors and help it achieve the goals of Vision 2030, which aims at making Saudi Arabia the heart of the Arab and Islamic worlds, an investment powerhouse, and a hub connecting three continents.

For more information, see the press release and speech on the IASB’s website. More information on Saudi Arabia’s Vision 2030 is available on the Kingdom's government website.

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