ASCA Participates in World Standard-Setters Meeting in UK

The conference tackled a number of professional issues, including insurance which was addressed in the International Financial Reporting Standard (IFRS) 4

 
LONDON---------November 22, 2010----- Dr. Usamah Tabara, vice chairman of the Arab Society of Certified Accountants (ASCA), participated in the annual conference of world standard-setters held by the International Accounting Standards Board "IASB" in London.

 
The conference tackled a number of professional issues, including insurance which was addressed in the International Financial Reporting Standard (IFRS) 4.

 
It is worth mentioning that the IASB has published a draft disclosure of the improvements to the accounting of insurance contracts that suggests one IFRS so all insurers in all jurisdictions can apply such standard to all types of insurance contracts on a consistent basis.

The conference also addressed the lease contracts set forth in IAS 17, the presentation of financial statements to achieve convergence between accounting standards and a single set of high-quality international accounting standards, the IFRSs for SMEs and the gradual adoption of these standards which will remain effective for several years.

Dr. Tabara is a certified accountant as well as a chairman and founder of Usamah Tabara Company (UTC) which operates in the field of accounting and consultancy in Lebanon, Syria, Iraq, Saudi Arabia, United Arab Emirates, Oman and Qatar.

 
About ASCA
The Arab Society of Certified Accountants “ASCA” was established as a not-for-profit professional accounting organization in 1984 in London-United Kingdom. It was officially registered in Amman on February 24, 1994 under the name of “The Arab Society of Certified Accountants”.