1.

What Other Areas Of The Profession Will Ifrs Affect?

Answer»

As IFRS grows in acceptance, most CPAs, financial statement preparers and auditors will have to become knowledgeable about the international standards. Others, such as ACTUARIES and valuation experts who are ENGAGED by management to assist in measuring certain assets and liabilities, are not currently taught IFRS and will have to undertake COMPREHENSIVE training. Professional ASSOCIATIONS and industry groups have begun to integrate IFRS into their training materials, publications, testing, and certification programs, and many colleges and universities are including IFRS in their curricula. Some textbooks are already covering IFRS, primarily in a comparative presentation to their instructions on U.S. GAAP.

As IFRS grows in acceptance, most CPAs, financial statement preparers and auditors will have to become knowledgeable about the international standards. Others, such as actuaries and valuation experts who are engaged by management to assist in measuring certain assets and liabilities, are not currently taught IFRS and will have to undertake comprehensive training. Professional associations and industry groups have begun to integrate IFRS into their training materials, publications, testing, and certification programs, and many colleges and universities are including IFRS in their curricula. Some textbooks are already covering IFRS, primarily in a comparative presentation to their instructions on U.S. GAAP.



Discussion

No Comment Found