Representatives of the SARAS attended the World Standard-setters Conference held in London

On October 1-2, 2018, representatives of the SARAS attended the Conference organized by the International Accounting Standards Board (IASB) and the International Financial Reporting Standards Foundation (IFRS Foundation). The meeting aimed to discuss the technical aspects of implementing International Standards.

The conference was devoted to the introduction to the latest updates on International Financial Reporting Standards. Particularly, the following issues were discussed: the revised Conceptual Framework, IFRS Standards, accounting of cryptocurrencies etc. Participants also covered subjects concerning different standard-setting projects. Updates noted above serve to improve current standards, research projects and educational aspects to support the implementation of IFRS Standards. 

The Conference created the opportunity for representatives of the SARAS to network with other national standard-setters, members of the Board, technical staff and IFRS Foundation employees. In particular, representatives of SARAS met representatives of Denmark, Australia, Japan, Korea and UK to obtaining additional advice regarding IFRS taxonomy and XBRL Standard adoption. They also met representatives of Indonesia and Turkey to share experience regarding the adoption of the International Standard for Fourth Category Entities (Micro Entities).