Financial Reporting

The valuation conducted by BDO boosted the quarterly results of the construction company Amram. The real estate company, which is traded on the Tel Aviv Stock Exchange, reported a threefold increase in profit to 165 million shekels.

Real estate firm Best Group is facing market pressure after revealing that the amount of funds unlawfully taken from its subsidiary is more than double the initial estimate. Following the announcement and concerns over the company's accounting practices, shares have fallen by 6%.

Bank of Israel Supervisor Daniel Hahiashvili has released a draft circular allowing banks to report under US GAAP. This move removes a major barrier to dual listing on US stock exchanges.