March 5, 2024

PwC’s Academy equips 200+ UAE professionals with latest IFRS updates

PwC’s Academy, the talent and skills development business of PwC Middle East, hosted its annual International Financial Reporting Standards (IFRS) seminar in the UAE, providing local businesses with the knowledge and expertise they need to navigate the evolving landscape of the world’s most widely applied accounting standards. This year’s seminar highlighted the impact of sustainability reporting on financial disclosures and the recent issuance of IFRS S1 and S2 by the International Sustainability Standards Board (ISSB).

Held earlier this month in Dubai and Abu Dhabi, the event brought together industry experts to discuss the latest developments in IFRS, including the increasing emphasis on sustainability reporting and the requirement for companies to disclose their environmental, social, and governance (ESG) performance. These new standards mark a significant shift in the global accounting landscape, placing greater emphasis on sustainability reporting and requiring companies to disclose their environmental, social, and governance (ESG) performance.

The one-day seminar provided participants with valuable insights from PwC’s world-leading experts and teams from the International Accounting Standards Board (IASB) and International Sustainability Standards Board (ISSB) into the application of IFRS S1 and S2, enabling them to effectively integrate ESG considerations into their financial reporting processes. The seminar also covered the evolving financial standards related to taxation, capital market issues, and upcoming company standards for the next year.

Gavin Aspden, PwC Partner and IFRS expert said: “Sustainability has become a critical factor for businesses worldwide, and the UAE is no exception. Since COP26, sustainability standards and frameworks have evolved significantly, particularly with the introduction of IFRS S1 and S2. As the UAE gears up to host COP28, we anticipate these standards to soon become mandatory in our region, making it imperative for businesses to gain a comprehensive understanding of these new requirements.”  

Guest speakers Blaise Jenner, Finance and Accounting Advisory Partner at PwC Middle East, Chris Mycroft, PwC Tax Director, Ali Mehdi, Senior Manager Tax and Dalia Qarawi, Manager Tax at PwC’s Academy, shared their perspectives on the latest developments in IFRS, and discussed the changes that will impact financial reporting in 2023 and beyond.

At the end of the event, all participants received certificates of attendance from PwC with six CPE credits each.

Last Updated on 4 days by Middle East News 247

    Middle East News 247

    Middle East News 247

    Middle East News 247 delivers trending business and lifestyle news and essential infotainment for, and from the Middle East region, with key focus on the GCC nations: United Arab Emirates (UAE), Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman.
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