Al Kathiri to issue IFRS-compliant statements in Q1 2018

26/12/2017 Argaam

 

Al Kathiri Holding Company has abided by its plan announced earlier to adopt the International the Financial Reporting Standards (IFRS) under the third phase of its transition process.

 

The chartered accountant made no notes on the firm's statement of financial position as of January 1, 2017, being compliant with IFRS, Al Kathiri said in a statement to Tadawul on Tuesday.

 

No material impact is likely to reflect on the company's financial statements due to the IFRS implementation.

 

The company has not faced any difficulties in transitioning to IFRS and it is ready to announce its financial results for Q1 2018 in compliance with IFRS, Al-Kathiri added. 

 

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