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"IFRS- An Introduction to the Movement Behind the Adoption of International Financial Reporting Standards"
While some U.S. organizations are already dealing with IFRS filing requirements related to their global operations and
subsidiaries, many others have IFRS on their radar as regulatory developments emerge. Transparency, timeliness, and
accuracy in financial reporting are considered essential attributes in business and reports are closely scrutinized by
investors, analysts, and regulators alike. Preparing for the adoption and keeping up with the progress of convergence
efforts between the International Accounting Standards Board and the U.S. Financial Accounting Standards Board is critical
to the management and finance teams.
Explore IFRS from multiple perspectives by attending this panel discussion. The discussion covers aspects of -
- Similarities and differences between U.S. GAAP and IFRS
- IFRS for small and medium sized entities (IFRS for SME's)
- Convergence 2011- reformatting financial statements
- IFRS and financial reporting
- Reporting under IFRS, non-financial assets
- IFRS and business combinations and consolidations
By attending this session, learn the key differences between U.S. Generally Accepted Accounting Principles (GAAP) and IFRS,
implications for mergers and acquisitions, adoption road map, global tax planning, conversion implications and
many more issues.
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Moderator- Yuko Wakasugi, Partner, SoaProjects
Yuko Wakasugi has more than 18 years of experience providing
assurance services to public and privately held companies. She also has experience working with companies in the technology, services,
real estate and private equity industries. Yuko has been involved in BDO Seidman's Women's Initiative and is integral in local
recruiting and retention programs. Yuko recently joined SoaProjects as partner, and prior to joining BDO Seidman, Yuko spent more than 10 years at Ernst & Young. Yuko is a member
of AICPA, California Society of CPAs ASCEND Co-Chair for Business Roundtable for the Northern California Chapter. Yuko has BS
in Business Administration, Accounting and Finance Emphases, University of California, Berkeley.
Session Panelist- Sam Dolittle, Partner, Deloitte
Sam Dolittle is West Coast leader of the Global IFRS Offerings Services (GIOS) group for Deloitte & Touche LLP. He has more
than 17 years of experience serving large multinational corporations, and has led the development of Deloitte's IFRS assessment
and conversion methodology in the United States. Within GIOS, Sam consults with many of Deloitte's most strategic West Coast
clients on IFRS matters, including assessments, conversion considerations, and technical accounting matters. Sam has extensive
experience with global organizations, particularly in the areas of financial reporting, including IFRS conversions, mergers and
acquisitions, internal controls, international expansion and operations, federal and state taxation, and information systems.
Sam is a frequent speaker on a variety of global financial reporting topics.
Panelist- Aftab Jamil, Partner, BDO
Aftab has over 18 years of experience in public accounting. He has substantial experience in serving technology and semiconductor
companies. Aftab has served public and private companies ranging from start-up, development stage enterprises to established
multinational companies. Aftab has significant experience with SEC reporting, mergers and acquisitions, international operations
and strategic partnerships. Aftab has also spent substantial time assisting publicly held clients and their audit committees to
understand, evaluate, and implement the internal control audit requirements o the Sarbanes-Oxley Act, and has been a key
contributor in the publication of various Thought Leadership projects on the related topics. Prior to joining BDO, Aftab was a
partner in the Technology Practice of a Big 4 accounting firm and for several years managed the semiconductor sector in which
role he consulted with engagement teams across the US regarding semiconductor industry specific accounting issues, best
practices and led the industry-specific training courses. Clients Aftab has served in the recent years included larger
established companies and high-growth companies such as Applied Biosystems, AMD, ArcSight, Applied Micro Circuits,
Centillium, Transmeta Corporation, Spansion, Photon Dynamics, Cepheid, SuperGen and Waferscale Intergration.
Panelist- Bryan McMichael, Director, PwC
Bryan is a Director in the Transaction Services Group of PricewaterhouseCoopers LLP in San Francisco with over nine years of
experience assisting clients from a range of industries with accounting policy and reporting including IFRS, US GAAP, and SEC
reporting requirements. While based in Europe (2005 - 2009), Bryan was involved in several IFRS and US GAAP conversion projects,
often being performed in conjunction with M&A transactions, capital raising efforts or both. Since repatriating to the US, Bryan
has focused on assisting clients preparing for and executing complex transactions and capital markets activities including
divestitures, carveouts, capital raising through IPO and debt offerings, and working with diligence teams to assess the impact
of GAAP reporting differences in cross-border transactions. Bryan is a Certified Public Accountant (CPA), and has a Bachelors
Degree in Accounting from San Diego State University, California.
Panelist- Andy Smyth, Principal, Ernst & Young
Andy Smyth is the West Area leader for Ernst & Young's Financial Accounting Advisory Services group, focusing on the provision
of IFRS and convergence-related services to a variety of companies across the West coast and beyond. Andy has more than 19 years
of experience with Ernst & Young and has served in both Assurance and Advisory roles in the UK and the US. Andy has deep energy
sector experience, advising on auditing and accounting issues facing oil and gas, mining and utility companies. Andy has worked
with IFRS since 2004, when European listed companies started preparing for IFRS reporting. He has since helped a number of large
companies convert to IFRS in preparation for IPOs on the London market, leading projects in Eastern Europe, Africa and Central
America. In addition to the technical aspects of IFRS, Andy has extensive experience in program management aspects of an IFRS
conversion and is regularly sought out to share his perspectives on how a company should approach its preparations for IFRS,
including key convergence considerations.
Andy is a member of the Institute of Chartered Accountants of England & Wales and received a Bachelors degree in Accounting
and Economics from the University of Durham, England.
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