The Accounting Society of Ethiopia is working in close collaboration with the Ethiopian Professional Association of Accountants and Auditors, and with the External Auditors Association to come up with a proposal to address key financial reporting issues; as per the request of the Accounting and Auditing Board of Ethiopia (AABE). The issues are:
- Accounting and reporting of custom valuation differences
- Accounting for Retained Earnings in relation to first time adoption and related matters such as “dividend distribution” arising from retained earning as a result of first time adoption.
Proposals were submitted to AABE.
ASE continue collaboration with sister association.