IFRS Workshop – ICAP UAE
SHMA Consulting DMCC participates in the IFRS Workshop organized by Institute of Chartered Accountants of Pakistan (ICAP), UAE Chapter
The ICAP UAE chapter organized an IFRS Workshop on 11 January 2020 at the auditorium of Pakistan Association Dubai, UAE. It represents the largest community of ICAP overseas members (more than 800 members), who are well-represented at many prestigious organizations in UAE.
This workshop, which was participated by more than 70 ICAP members, covered some very important standards like IAS 19 (Employee Benefits), IFRS 9 (Financial Instruments), IFRS 15 (Revenue from Contracts with Customers) and IFRS 16 (Leases). Rahim Feroz Ali, ASA Consulting Actuary & Director at SHMA Consulting was amongst the panel of speakers, which also included other speakers from renowned international accountancy firms.
Rahim’s presentation was on “the IAS 19 with a walkthrough of the Actuarial Report” in which, he discussed in detail how IAS 19 – Employee Benefits works. He explained overall understanding of post-retirement benefits, underlying assets and related concepts, scope and overview of IAS 19, accounting for defined benefit schemes, challenges relating to determination of demographic and economic assumptions and an overview of the valuation process.