Track: Financial Accounting and Reporting

Insights on Adoption of IFRS and Potential Impact in the U.S.

Monday, October 20, 2008
1:30 p.m. - 3:00 p.m.
Room: 408 A

This session will provide an overview of IFRS and its current status of adoption in the U.S.; discuss the role of the International Accounting Standards Board (ISAB); assess the benefits and challenges of adopting IFRS and identify some of the differences between IFRS and U.S. GAAP.

Speakers:

• Michael C. Corley, CPA
  Partner
  KPMG, LLP

• Alexander N. Neil, CA
  Director, Accounting Advisory Group, Transaction Services
  KPMG, LLP

Objectives

• Understand the reasons behind IFRS development
• Learn the potential impacts of IFRS, the steps involved in the conversion and how to plan for the transition
• Asses the potential impact on key areas, such as: information technology systems; business processes and controls; key stakeholders; and management teams and employees

Pre-Requisites

• None

Take-Aways

• IFRS Compared to U.S. GAAP: An Overview

CPA Field of Study: ACCT