​Reference to the Saudi Organization for Certified Public Accountants ("SOCPA") board resolution Issued on 10/09/1438H corresponding to 18/7/2013, which Entails the full adoptions of the International Financial Reporting Standards ("IFRS"), after SOCPA endorsement, for the financial periods beginning on 1/1/2017 or after by entities listed on the Saudi Stock Exchanges. And on 1/1/2018 or after for other entities. Moving forward from the Capital Market Authority role in regulating and monitoring the works and activities of parties subject to the control and supervision of the Authority, and regulating and monitoring the full disclosures of information regarding financial securities and their issuers, the CMA Board has issued its resolution on 16/06/1431H corresponding to 12/06/2017,  to obligate Investment Fund Managers to apply the cost model to measure the property, plant, equipment, investment property, and intangible assets upon preparing IFRS Financial Statements. The Authority will analyze the feasibility of continuing to apply the cost model after three years from the date of this resolution.