ICAI Kuwait Chapter holds CPE workshop on IFRS 18 and its industry effects

The Institute of Chartered Accountants of India (ICAI) Kuwait Chapter has conducted a Continuing Professional Education (CPE) workshop focusing on IFRS 18, the latest updates and their repercussions across various sectors. The event brought together finance and accounting professionals from across Kuwait to examine one of the most significant recent developments in financial reporting.

Workshop explores IFRS 18 changes

The workshop examined the main modifications introduced by IFRS 18, which aims to enhance how financial performance is presented and disclosed in financial statements. Attendees gained insights into the practical consequences of the new standard, challenges related to its implementation and the expected impact across different industries.

The programme began with member registration and networking, allowing professionals to share views on financial reporting developments. CA Deeba Shahab moderated the session, welcoming participants and outlining the workshop’s focus. In his welcome address, ICAI Kuwait Chapter Chairperson CA Venkata Ramana Badida stressed the importance of staying current with evolving financial reporting standards and reiterated the Chapter’s dedication to ongoing professional growth.

He encouraged members to take part actively in the Institute’s initiatives, including WOFA, the Artificial Intelligence Level 1 course and the forthcoming transfer pricing workshop, highlighting their significance for developing finance professionals ready for future industry needs.

Speakers from KPMG Kuwait

CA Shuja Khan introduced the speakers from KPMG Kuwait — Salman Bin Khalid, Partner, and CA Deepak Sharma, Manager — who gave presentations covering IFRS 18, recent regulatory developments, implementation challenges and industry-specific considerations. Their practical examples and professional expertise helped participants understand the implications of the new reporting requirements.

The workshop ended its technical discussions with an interactive question-and-answer session moderated by CA Ketan Puri. Participants raised queries and sought clarification on technical matters and practical concerns related to implementing IFRS 18. The programme also recognised the winners of Jagruti, the Chapter’s monthly newsletter, in the Brain Buzz segment, acknowledging their involvement in the initiative’s knowledge-sharing activities. A raffle draw added to the evening’s proceedings.

Recognition and acknowledgements

In recognition of their contributions, the Chapter presented mementos to the speakers. CA Firoz Ali delivered the vote of thanks, expressing appreciation to KPMG, the speakers, members and participants for their contributions to the programme’s success. The Chapter also acknowledged the organising team, sponsors, media partners and the management and staff of Radisson Blu Kuwait for their efforts, support and hospitality.

The ICAI Kuwait Chapter reaffirmed its commitment to providing quality professional learning opportunities and facilitating knowledge-sharing initiatives to help members stay abreast of evolving standards and developments in the finance and accounting profession.