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ASCA/Jordan Participates in the International Standards Setters Conference in London

24 Oct 2010

The conference discussed various subjects related to international standards and the latest developments in this field

LONDON------- October 24, 2010-------- The Arab Society of Certified Accountants/Jordan (ASCA/Jordan) participated in the International Standards Setters Conference held September 20-21 in London at the Renaissance Chancery Court Hotel.

Mr. Ahmed Abu- Humus attended the conference, representing Mr. Talal Abu-Ghazaleh, chairman of the Administrative Committee of ASCA (Jordan), chairman and CEO of Talal Abu-Ghazaleh Organization (TAG-Org), in addition to many professional personalities from around the world. ASCA/Jordan Participates in the International Standards Setters Conference in London

In his welcoming speech, Mr. David Tweedy, chairman of IASB expressed his happiness with the various international organizations that sponsor the translation and adoption of the international standards from all countries of the world.

The conference discussed various subjects related to international standards and the latest developments in this field. The officials of IASB pointed out that the changes introduced to the financial reporting standards will be completed by 2012. The most important changes will deal with insurance contracts, lease contracts and the standard of international accounting 39: “Financial Instruments: Recognition and Measurement”.

Mr. Jan Engstrom, IASB Member highlighted the matters that are related to the adoption of international financial reporting standards

for small and medium-sized enterprises (SMEs) and stated that the standards for SMEs have not been adopted in all countries until now, and the process of gradual adoption is continuous and it might continue for few years.


It is worth noting that the Society endeavors to develop the science of accounting and management and all related principles that are applied in all or part of the professional services. It seeks also to develop the levels of efficiency, practices and behavior to the highest professional levels through accounting publications and the follow-up of new and modern ideas in the accounting and auditing professions.