AICPA and IASC Foundation to Co-Sponsor Premier U.S. Conference on International Financial Reporting Standards
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Paul Volcker Among Top International and U.S. Speakers
NEW YORK, Oct. 26 /PRNewswire/ -- Former Federal Reserve Board Chairman Paul A. Volcker and International Accounting Standards Board Chairman Sir David Tweedie will headline a major conference in New York this week on International Financial Reporting Standards in the U.S.
The Oct. 29 - 30 conference features leading international and U.S. experts on International Financial Reporting Standards (IFRS). It will be hosted jointly by the American Institute of Certified Public Accountants and the International Accounting Standards Committee Foundation. The two-day event is designed to help business leaders and financial professionals learn more about the significance of IFRS, its future, and impact on U.S. and international clients and businesses, as well as practical ways to prepare for implementation.
"This conference is an opportunity for financial professionals to obtain cutting-edge, expert guidance and learn from the top international and U.S. authorities who are developing the new IFRS standards," said AICPA President and CEO Barry Melancon. "If you're a financial executive or a CPA with clients who will be using IFRS, you should not miss this."
Volcker, who now serves as chairman of the President's Economic Recovery Advisory Board, will present a keynote address on the impact of IFRS adoption on global capital markets.
Robert H. Herz, chairman of the U.S. Financial Accounting Standards Board, and IASB Chairman Tweedie will give a joint talk on the progress being made toward convergence of U.S. generally accepted accounting principles with IFRS.
Securities and Exchange Commission Chief Accountant James Kroeker will talk about progress and plans at the SEC for future adoption of IFRS perhaps as soon as 2014.
Martin F. Baumann, chief auditor of the U.S. Public Company Accounting Oversight Board, will lay out the audit implications of the SEC allowing use of IFRS for financial reporting by U.S. publicly held companies.
More than 100 countries currently require or allow publicly-held companies to use IFRS in response to global demand from regulators, investors, businesses, and auditing firms for a single set of high-quality accounting standards. The first step toward allowing U.S. public companies to use IFRS was taken by the U.S. Securities and Exchange Commission in 2008 when it proposed a draft roadmap and timeline with key milestones for adopting IFRS.
The conference will feature in-depth presentations, panel discussions, question and answer sessions, roundtables with IFRS experts, and case studies of companies that have adopted IFRS. The case studies will address the challenges of implementation, technology requirements, and best practices.
Other IFRS experts scheduled to speak at the conference are IASB board members Steve Cooper, Patrick Finnegan, Bob Garnett, Jim Leisenring, Pat McConnell, and John Smith, and FASB board member Leslie Seidman, Judith H. O'Dell, chair of the FASB Private Companies Financial Reporting Committee, and Paul Pacter, chairman of the IASB SME Implementation Group and director of standards for SMEs, will discuss the relevance of IFRS for private companies, particularly small and medium-sized entities.
Schedule and registration information for the "International Financial Reporting Standards in North America 2009: The U.S. Perspective" are available at www.cpa2biz.com/IFRS2009. The conference will take place at the Millennium Broadway Hotel in New York.
About the IASC Foundation
The International Accounting Standards Committee (IASC) Foundation is the oversight body of the International Accounting Standards Board (IASB). The Foundation, through the IASB, is committed to developing, in the public interest, a single set of high quality, global accounting standards that require transparent and comparable information in general purpose financial statements.
About the AICPA
The American Institute of Certified Public Accountants (www.aicpa.org) is the national, professional association of CPAs, with more than 360,000 CPA members in business and industry, public practice, government, education, student affiliates, and international associates. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination.
The AICPA maintains offices in New York, Washington, D.C., Durham, N.C., Ewing, N.J., and Lewisville, Tex.
Media representatives are invited to visit the AICPA Online Media Center at www.aicpa.org/mediacenter.
SOURCE American Institute of Certified Public Accountants
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