Accounting professionals unite to help Indian corporates for IFRS transition

PRLog (Press Release) - Jan 21, 2010 -
Mumbai, January 21, 2010  The biggest names in the accountancy world come together for the first time to address issues involved in India’s transition to IFRS at the Implementing IFRS conferences being organized by Get Through Guides (GTG) with ACCA (Association of Chartered Certified Accountants) as platinum sponsors. These conferences are to be held on 27, 28 and 29th January 2010 in Pune, Mumbai and New Delhi respectively and would be exclusive invitation-only events. Implementing IFRS would witness eminent speakers from distinguished financial bodies, renowned accounting firms and financial heads of domestic companies sharing their views on the systems and processes that companies in India need to implement to ensure a smooth transition to IFRS.

Ms. Vandana Saxena-Poria OBE, Chief Executive Officer, Get Through Guides believes that proper planning is the key to smooth transition to IFRS. According to Ms. Saxena-Poria, “Through these conferences, GTG wants to give a global as well as local view on issues involved in transition to IFRS. We have speakers from abroad - both from the IASB and ACCA, Ministry of Company Affairs, from industry and from the accounting profession. The purpose is to dispel the myths of how difficult transition is, learn from experiences abroad and help companies understand how to build their own internal roadmap for implementing IFRS. The key is in the planning and we aim to help kickstart the process.”

Aziz Tayyebi, Financial Reporting Officer at ACCA, says, “As we enter 2010, the transition to International Financial Reporting Standards (IFRS) is imminent for many Indian companies. The change process from Indian Generally Accepted Accounting Principles (IGAAP) to IFRS needs to be planned carefully to ensure that costs and resources are not put under pressure. These events, organised by Get Through Guides, are extremely timely and relevant as they offer an insight for management into how IFRS will affect their decision making. But it is also important to ensure that staff are trained to implement IFRS successfully.”

The Implementing IFRS Conferences aim to exchange views on a wide range of issues like measures being taken by the government authorities to facilitate IFRS transition, experiences of Indian companies which have already adopted IFRS, learnings from IFRS compliant European nations and implications of key standards like Financial Instruments and Revenue Recognition for India. The eminent panel of speakers would include Prabhakar Kalavacherla from International Accounting Standard Board (IASB), Aziz Tayyebi from Association of Chartered Certified Accountants (ACCA), Kumar Das Gupta from PwC, Vandana Saxena Poria from GTG and Rajesh Garg from Cadbury to name a few.
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