IASC Foundation Conference:
IFRS – Implications of Convergence
Thursday 6 April 2006 - Friday 7 April 2006
The Frankfurt Marriott, Germany
Speakers confirmed to date include:
Sir David Tweedie
Chairman
IASB
Mr Charlie McCreevy
Commissioner Responsible for
Internal Market & Services
EUROPEAN COMMISSION
James J Leisenring
Board Member
IASB
Mike Crooch
Board Member
FASB
Robert Herz
Chairman
FASB
Patricia McConnell
Senior Managing Director
BEAR STEARNS & Co
John Tiner
Chief Executive FSA,
Chairman, CESR-Fin
Christian Dreyer
Managing Partner
TERTIUM DATUR AG
Dear Colleague,
Background to the Convergence Conference
In the Norwalk Agreement in September 2002, the Financial Accounting Standards
Board (FASB) and International Accounting Standards Board (IASB) agreed upon a
framework for working together to develop high-quality, compatible accounting
standards that could be used for cross-border financial reporting.
Last April, Charlie McCreevy, EU Internal Market Commissioner, and William
Donaldson, then Chairman of the US Securities and Exchange Commission (SEC),
discussed a ‘roadmap’ developed by SEC staff that highlights the steps needed to
eliminate the US GAAP reconciliation requirement for international companies that
use International Financial Reporting Standards (IFRSs) and file with the SEC.
The roadmap establishes a goal of eliminating the reconciliation requirement as early
as possible between now and 2009 at the latest. Achieving that goal would, among
other things, depend on a detailed analysis of the faithfulness and consistency of the
application and interpretation of IFRSs in financial statements across companies and
jurisdictions, and continued progress on the FASB-IASB convergence activities.
Continued over…
Register Today!
T: +44 (0)20 7915 5160
F: +44 (0)20 7915 5135
E-Mail: registration@iascfconference.org
The Challenge for Financial Executives
With convergence a major priority for accounting standard-setters, the potential
benefits from the convergence process is great.
The IASB is conscious that many companies and investors are already coping with an
enormous amount of change with the adoption of new and revised IFRSs. This
conference has therefore been specifically designed to provide leading preparers,
auditors, analysts, and investors with an unrivalled opportunity to engage in a dialogue
between the standard-setters, regulators, and their peers. You will discover strategic and
technical explanations of how the convergence process will impact your company, both
now and in the future.
Strategic & Technical Considerations
The two-day conference is designed for senior financial executives and other interested
parties to:
• Engage leaders who are driving or regulating the convergence of global
accounting standards
– FASB, IASB, European Commission, CESR-Fin & SEC staff
• Gain insights and perspectives from leading International Analysts
• Share the experiences of different multi-national IFRS Financial
Statement Preparers
• Explore convergence and beyond during 6 Interactive Break-Out Sessions
• Share your views with the speakers at the formal ‘Question & Answers’ sessions
and more informally at the cocktail reception
• Make your views known to IASB members
Why You Should Attend:
The purpose of this event is two-fold:
• To explore the IASB/FASB convergence programme and its implications
• For the standard-setters, regulators, analysts and preparers to hear about
implementation issues, or concerns that you may have.
IASB, FASB Lead Breakout Sessions:
Here is your chance to engage the standard-setters. These sessions are to
be led by Board members and staff of the IASB and the FASB. By attending, you
will engage the standard-setters on the most pressing convergence issues. The
sessions will be flip-chart based, with a heavy emphasis on learning and
discussion and will be repeated after lunch (to allow you to attend more than one).
1. Framework*
2. Business combinations including related issues*
3. Performance reporting*
4. Revenue recognition*
5. Financial instruments*
6. SEC staff questions & answers
* session conducted by IASB and FASB Boards and Staff
I hope to see you in April in Frankfurt.
Yours faithfully
Sir David Tweedie
Chairman, IASB
Register Today!
T: +44 (0)20 7915 5160
F: +44 (0)20 7915 5135
E-Mail: registration@iascfconference.org