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Aldrees to adopt IFRS policy on 18 October

Aldrees to adopt IFRS policy on 18 October
Aldrees did not face any difficulties so far in the transition process- (Photo Archive)
ALDREES
4200
48.61% 171.20 56.00

Riyadh – Mubasher: Aldrees Petroleum and Transport Services Company on Wednesday reported that it is planning to implement the International Financial Reporting Standards (IFRS).

The targeted date for adopting the IFRS policy is on 18 October, while the target date for the first financial statement based on IFRS is on 31 October, according to a bourse filing.

The company stated that it has appointed a competent and experienced external consultant to implement the transition plan.

Aldrees did not face any difficulties so far in the transition process toward implementation of IFRS, the statement said.