KPMG Kuwait Hosts “Insights into IFRS” Workshop

Group photo of KPMG Audit Team with Managing Partner Dr. Rasheed AlQenae

From left to right: Waleed AlQenae (Assistant Manager - Audit), Moiz Multhanwala (Director - Audit), Bhavesh Gandhi (Partner and Head of Financial Services), Dina Rizkallah (Director - Audit), Dr. Rasheed AlQenae (Managing Partner), Salman Bin Khalid (Partner and Head of Audit), Khaled Elkazaz (Director - Audit), Venkateswaran Narayanan (Partner, KPMG India), and Salman Aziz (Director - Audit)

KPMG in Kuwait successfully hosted its annual IFRS workshop, “Insights into IFRS,” bringing together over 150 finance professionals and business leaders to discuss the latest developments in International Financial Reporting Standards (IFRS) and related regulatory changes.

Designed for finance professionals and business leaders in Kuwait, this full-day workshop covered IFRS updates, common implementation challenges, sustainability standards, practical applications of automation and cloud technologies in finance, and recent developments under the Domestic Minimum Top-up Tax (DMTT) Law.

Commenting on the event, Dr. Rasheed Al-Qenae, Managing Partner of KPMG in Kuwait and Head of the CASA region, said:

In line with recent changes to global reporting standards, this workshop was timely in helping organizations understand the importance of early preparation. With IFRS 18 effective from January 1, 2027, businesses must start planning well in advance to ensure a smooth transition and manage the significant impact these changes will bring.

Dr. Rasheed Al-Qenae

Chairman of the KPMG's CASA region and

Managing Partner, KPMG in Kuwait

Led by experts from KPMG Kuwait and KPMG India, the workshop featured few interesting sessions. The first session highlighted the emerging risks that organizations might face till 2027 including the impact of AI and Cybersecurity. This was followed by a session that covered IFRS 9 and common pitfalls—particularly SPPI and impairment assessments—along with IFRS 18’s new presentation and disclosure requirements, sustainability standards IFRS S1 and S2, and use cases for AI in finance. The last half of the workshop focused around the updates on Transfer Pricing under Kuwait’s DMTT Law, which directly impacts reporting standards.

Salman Bin Khalid, Partner and Head of Audit at KPMG in Kuwait, highlighted the success of the event:

With more than 150 professionals attending, we were delighted by the level of engagement and curiosity among the finance community. This participation underscores the importance of IFRS readiness and the growing interest in emerging topics such as ESG disclosures and tax reforms.

Salman Bin Khalid

Partner and Head of Audit

KPMG in Kuwait

The event concluded with an interactive Q&A session and networking opportunities. Attendees left with actionable insights to help their organizations prepare for upcoming regulatory changes and align with global best practices.