PMA Organizes Training Course Titled “International Financial Reporting Standards”

In collaboration with Ernst & Young, the PMA organized a course to train its employees of relevant departments on “International Financial Reporting Stnadards (IFRS)”. 

The training was delivered over two consecutive days by the managers of audit services: Mr. Rami Taha and Mr. Muhannad Haj Ali. 

The course focuses on the latest developments and the most significant amendments that were recently introduced to IFRS, particularly IFRS 9 which deals with financial instruments and is concerned with the measurement of financial instrument value changes and disclosure of value losses by banks. The course also focuses on the IFRS 10 on consolidated financial statements; IFRS 11 on joint arrangements; IFRS 13 on fair value measurement and the International Standard on Auditing (ISA) 700 concerning the auditor's reports. It should be noted that these standards have come into effect on Jan 1, 2013; however, ensuring their proper application requires additional time and effort.