Raydan approves accounting policies for IFRS financial statements

Nomu-listed Raydan Cuisines and Restaurants Co.’s board of directors on Thursday approved the accounting policies required to prepare financial statements under the International the Financial Reporting Standards (IFRS).

PKF Al Bassan & Al Nemer accounting firm was hired and an internal team will implement the transition plan, the firm said in a statement.

Raydan added that the first IFRS-compliant financial statements are expected for Q1 2018. The firm does not expect any obstacles during implementing the plan.