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Date: Apr 20, 2009
Frank G. Zarb School of Business to Host an International Financial Reporting Standards Conference
Hofstra University, Hempstead, NY – The adoption of International Financial Reporting Standards will be the subject of a conference hosted by the Frank G. Zarb School of Business and the Merrill Lynch Center for the Study of International Financial Services and Markets on Monday, May 4, 2009 from 8 a.m. to 2 p.m. in the Hofstra University Club, David S. Mack Hall, North Campus.
"International Financial Reporting Standards: Implementation and Progress by U.S. Companies" will look at the possible adoption of and convergence with IFRS in the United States.
In November 2008 the Securities and Exchange Commission proposed that domestic companies transition away from the U.S. Generally Accepted Accounting Principles, a set of accounting rules used to prepare financial statements for publicly traded companies and many private companies in the United States, and adopt International Financial Reporting Standards, global accounting standards developed by the International Accounting Standards Board. Large companies would make the adjustment by 2014, smaller companies by 2016. Although the SEC may choose not to fully adopt IFRS, significant convergence between IFRS and U.S. GAAP is already under way.
"Companies on Long Island should be aware of how this change will significantly impact them. The IFRS standard completely revises how businesses report their finances. It's no longer about meeting a local standard but a global one," said Anoop Rai, director of the Merrill Lynch Center for International Financial Services and Markets.
The conference will provide the latest insights and analysis on the proposed adoption and controversy. The two-session conference will begin at 8 a.m. with breakfast and a keynote address by Wayne Kolins, national director of assurance and the global head of audit and accounting for BDO Seidman LLP. Mr. Kolins will provide an overview of the current state of IFRS implementation in the United States.
First Session Topic: Regulatory, legal and accounting perspectives on IFRS implementation
Panelists include distinguished members with experience in IFRS policy:
- Glenn Tyranksi, senior vice president for financial compliance, New York Stock Exchange Regulation
- LizabethAnn Rogovoy Eisen, partner, Cravath, Swaine & Moore LLP
- Joel Osnoss, partner in the area of global IFRS and offerings services, Deloitte & Touche LLP.
Second Session Topic: Experiences of corporations in changing accounting standards
Panelists include distinguished members from major corporations:
- Robert Gannon, global controller, News Corporation
- Peter Bridgman, senior vice president and controller, PepsiCo. Inc.
- Andreas Rothe, global controller, Parsons Brinckerhoff
Luncheon speaker Katherine Schipper, Ph.D., from Duke University, past member of the Financial Accounting Standards Board, will add an academic perspective on the adoption of IFRS by U.S. companies.
For more information or to register please visit www.hofstra.edu/mlc.
The Frank G. Zarb School of Business at Hofstra University believes that the best business education provides students with a sound knowledge of their field combined with a broad, well-rounded program of study guided by an experienced faculty committed to excellence.
The Merrill Lynch Center aims to disseminate information and facilitate student and faculty study in the field of international financial services and markets using an interdisciplinary approach and interactions between academics and professionals.
Hofstra University is a dynamic private institution where students can choose from more than 145 undergraduate and 160 graduate programs in liberal arts and sciences, business, engineering, communication, education, health and human services, and honors studies, as well as a School of Law.
Related Link: For additional information or to register