The Conference on “International Financial Reporting Language (IFRS) and its Role in Increase Transparency in the Financial Market” was held in Tehran
The Conference on “International Financial Reporting Language (IFRS) and its Role in Increase Transparency in the Financial Market” was held in Tehran on February 25, 2017.
Dr. Shapour Mohammadi, SEO Chairman said: “IFRS implementation was hard to achieve; based on Deloitte, currently 23 out of 153 countries have not yet implanted the IFRS.” Although all sections of economy will be benefitted from IFRS, but the main beneficiary is the capital market, Mohammadi quoted.
IFRS is a pre-requisite for modern technologies within financial market such as XBRL, while cooperation with multinational entities is also requires IFRS; SEO Chairman remarked adding that the SEO will assist market participants to remove any obstacles in IFRS implementation.
The SEO hosted the event whereas Minister of Finance, Governor of the Central Bank, Chairman of Iran Central Insurance Organization, Chairman of Iran Accounting Organization and also the Head of Economic Commission of the Parliament were also among the keynote speakers.