Seminar on “IAS 19 – Employee Benefits & Report” – Riyadh & Jeddah

SHMA Consulting,organized a seminar in KSA on “IAS 19 – Employee Benefits & Report” on 5th & 6th November 2019 at Novotel Riyadh Al-Anoud Hotel, Riyadh & Radisson Blu Hotel, Jeddah.

The event had two presentations and one panel session.

In the first presentation, Mr. Ali Omer Golam Morshed, FIA, FCA 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.

In the second session Mr. Rahim Feroz, ASA gave a complete walk through of report and IAS 19 disclosure, during his session he covered assumptions used in the valuation, primary disclosures, additional disclosures, report structure and discussed practical issues in implementing IAS 19.

At the end of both seminars at Riyadh and Jeddah, interactive panel sessions held which were moderated by Muhammad Asif Iqbal, FCA. Riyadh panelists included Mr. Muhammad Iqbal, CFO, Alinma Bank, Mr. Fares A. Atawneh, Manager Accounts, Tasnee and Mr. Rahim Feroz. Jeddah panelists included Mr. Sohail Habib, Executive Director Corporate Finance, Savola Group, Mr. Antar Rafique, Director, LYCA Chartered Accountants, KSA and Mr. Rahim Feroz.

The seminars were attended by over 100 participants including CFOs, Financial Managers, Financial Controllers, HR Heads, and Auditors.