The Arab Society of Certified Accountants (ASCA) (www.ascasociety.org) Jordan announced on September 27, 2006, the release of the 2005 Arabic translated edition of the Financial Reporting Standards (IFRSs). The publication outlined the following :
- Issuing IFRS 6 “Exploration for and Evaluation of Mineral Resources”
- Modifications on the International Accounting Standard IAS 19, which covered the “Actuarial Profits, Losses and Disclosures”
- Issuing modifications on the International Accounting Standard IAS 39, which covered “ Actuarial Profits, Losses and Disclosures”
- The publication also included the interpretation of the International Financial Reporting Interpretation Committee (IFRIC) related to interpretation 12 “Financial Statements Consolidation of Special Purpose Entities”
ASCA works toward developing the accounting and management sciences and improving the quality of the profession by publishing accountancy materials, and by staying up-to-date with the new accounting and auditing standards.