Real progress is being made on the adoption of International Financial Reporting Standards (IFRS) in the Middle East, but there is an urgent need for corporate legislation that mandates the use of IFRS by all companies and enforces proper compliance.
That is the verdict of international accounting experts addressing the World Accounting Summit in Dubai later this month.
The five-day international summit will bring together more than 300 leading international and local accounting experts, regulators and standard setters at the Al Murooj Hotel, Dubai from May 27-31. The main debating topic will be the successful regional implementation of the global standard for accounting and reporting, IFRS.
