CPE SESSION 29 - Wednesday, 1:00 PM - 4:00 PM

International Accounting Standards Update

Description/Objectives:
The objective of this workshop is to update participants on developments in International Accounting Standards in the past year. Mary Barth and Trish O'Malley, International Accounting Standards Board members, will give an overview on:

• The transition in restructuring the IASB from a part-time to a full-time body
• Recognition of IAS by the SEC and other national securities regulators
• National adoptions of IAS
• The IASB's agenda
• Review of recently issued International Standards
• Review of recent IASB Interpretations
• Joint Working Group proposal on fair value of all financial instruments
• Ongoing IASB agenda projects, including performance reporting, insurance, extractive industries, business combinations, discounting, Internet reporting, emerging economies
• Discussion of broad issues confronting the IASB, including scope of standards, enforcement, allowed alternatives, black letter vs. gray letter, convergence of national GAAPs and IAS.
• General comparison of IAS and US GAAP.

Format/Structure:
The CPE session will be an informal presentation. Audience participants are encouraged to make comments, cite examples, and ask questions.

Intended Audience:
Accounting professionals who are interested in international financial reporting issues.

Presenter:
Mary Barth, Stanford University
Trish O'Malley, International Accounting Standards Board

Sponsor:
International Section