This one-day seminar provides an update on all of the latest developments in IFRS that are most relevant to the KSA economy and are effective in 2021 and beyond. Hosted by PwC's world-leading experts in IFRS adoption, implementation and training using a series of illustrative examples and interactive sessions, this seminar will help you make your CPE/CPD declaration with confidence.
In the seminar we will discuss the changes which will impact the 2021 year end audit and amendments issued in 2021 which will have an impact on future audits and preparation of financial information throughout 2022. Tax session. The seminar will also include some KSA specific VAT updates and will introduce ESG and why it is so important to corporates as well as cover the latest on the reporting and disclosure requirements.
Here’s why you can’t miss the seminar!
• Get 6 CPE credits
• Get the latest updates in IFRS in the region
• Network with like-minded people from the industry
Gavin is the Regional Director for Professional Development at PwC’s Academy Middle East. He is an expert in International Financial Reporting Standards (IFRSs) specialising in financial instruments and oversees IFRS trainings delivered in the region. Gavin has delivered IFRS, finance and accounting training programmes to over 21,000 finance and non-finance professionals from over 3,200 organisations in different industries around the world during his 20 years as a trainer. Gavin is a strong advocate of IFRS as the global financial reporting language and remains actively involved in discussions and consultations around the future development and maintenance of the standard.
Our guest speaker:
Chadi Abou Chakra
Chadi is a Tax partner at PwC and currently leading the PwC VAT practice in KSA. He has over 20 years of experience in tax, fiscal policies and reforms shared between Canada and the Middle East. He has led 80+ VAT implementation projects for PwC in KSA since 2017, multiple VAT compliance and advisory engagements and extensively interacted with GAZT on various VAT and excise issues. He has contributed to various studies on the policy design of indirect taxes in the GCC and represented PwC in many events as a speaker on VAT related matters.
The session will be delivered live online
14 November 2021 I 9.30 - 15.30 I USD 500*
*Discounts are available upon registration. Excluding VAT.
An insight into the IASB’s activity for the past year and summary of their view on the future of financial reporting.
IFRS amendments in 2021
All the changes which will impact the 2021 year end audit and amendments issued in 2021 which will have an impact on future audits and preparation of financial information throughout 2022 including:
IBOR reform, IAS 1 classification of liabilities, IFRS 16 COVID related rent concessions, IAS 37 Onerous contracts, IAS 16 proceeds before intended use, IAS 1 and IAS 8 Accounting policies and accounting estimates and many others.
This session covers the issues seen by companies in adopting the newer standards and some old favourites brought into the spotlight by the business environment we live and trade in. This will cover:
• IFRS 15 - specifically contract modifications, variable consideration, contract costs and the trigger for recognition at a point in time and methods for recognising over time
• IFRS 16 – specifically least term changes due to renewals and terminations, lease modifications and other complexities
• IFRS 9 – specifically the expected credit loss model for corporates and financial services, intercompany loans and balances and changes in terms
Other topics will be covered include the permitted revaluations of property, plant and equipment, investment properties and certain intangible assets
KSA VAT Update: An introduction of E-invoicing in KSA
Reporting and disclosures relating to ESG
This session will introduce ESG and why it is so important to corporates as well as cover the latest on the reporting and disclosure requirements.
IASB project update
There are no scheduled dates for this course. Fill out the form to check future dates or deliver the course in-house