Regulators and accounting professionals stress Oman's need for IFRS

09/30/2013 | Times of Oman

At a seminar on International Financial Reporting Standards, Sheikh Abdullah Salem Al Salmi, the executive president of the Capital Market Authority, emphasized the importance of using the standards to prepare financial statements for small and medium-sized enterprises. Regulators and finance professionals who attended the conference joined in the call for adopting IFRS for SMEs in Oman, saying it would simplify reporting and lower compliance costs.

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