New York, NY, March 01, 2011 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Paul Munter, Partner, Department of Professional Practice, KPMG LLP will speak at the Knowledge Congress’ webcast entitled: “Adopting IFRS: Implications on Private Companies Live Webcast”. This event is scheduled for March 23, 2011 at 12:00 PM -2:00 PM ET.
For further details, please visit: http://knowledgecongress.org/event_2011_AdoptingIFRS.html
One of the ongoing debates is how do we get to a single set of international accounting principles under which all companies report their finances? Most of Europe and 100 other countries around the world have already adopted IFRS or a jurisdictional adaptation of IFRS. Right now US public companies and most private companies are still reporting under US GAAP standards. Convergence has been a long and difficult process for a number of reasons, but the move to IFRS may entail a move away from the “prescriptive guidance” that generally exists under US GAAP. Most of the activity surrounding IFRS has focused on publicly traded companies though privately held companies need to take a serious look at how IFRS is going to impact their firms. Many have speculated that IFRS will be a game changer for the private sector as it could fundamentally alter how they report their financial results. Private companies who are owned by a foreign entity currently reporting under IFRS or significant investor using IFRS may find themselves having to prepare financial information in accordance with IFRS.
About Paul Munter
Paul Munter is a Partner in the Department of Professional Practice—Audit with KPMG. He serves as the lead technical partner for the US firm’s international accounting and IFRS activities and also serves on KPMG’s Global IFRS Panel which is responsible for establishing KPMG positions on the application of IFRS.
He also is involved in the development of firm positions in response to proposals from the IASB, IFRIC, FASB, SEC and other standard setters as well as the development of the firm’s guidance and publications including Comparison of IFRS to US GAAP and First Impressions: Business Combinations (joint IASB/FASB project).
Mr. Munter was honored by the Texas Society of CPAs as its first “Outstanding Discussion Leader.” He has also been honored by the Florida Institute of CPAs as its Outstanding Educator and he was honored by Beta Alpha Psi as the National Business Information Professional of the Year.
About KPMG LLP
KPMG LLP, the audit, tax and advisory firm (www.us.kpmg.com) is the U.S. member firm of KPMG International. KPMG International’s member firms have 137,000 professionals, including more than 7,600 partners, in 144 countries.
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Congress brings together the world's leading authorities and industry participants through informative two-hour webcasts that study the impact of changing regulations and help businesses succeed through proper regulatory compliance.
For further information and inquiry, visit www.knowledgecongress.org