AMELIA ISLAND, Fla., May 19 /PRNewswire/ -- The American Institute of
Certified Public Accountants announced the introduction of IFRS.com, a new
Web site developed in partnership with its marketing and technology
subsidiary CPA2Biz to help members and financial professionals learn about
and stay informed on International Financial Reporting Standards (IFRS).
"It is increasingly clear that as international standards gain wider
acceptance and use in the United States, the accounting profession must
keep pace," said Barry C. Melancon, president and chief executive officer
of the AICPA. "Our hope is IFRS.com will provide the information and
resources CPAs need."
The new IFRS.com site was officially launched May 15 and publicly
announced today at the Spring meeting of the AICPA's governing Council.
IFRS is set by the International Accounting Standards Board in London, the
international equivalent of the U.S.'s Financial Accounting Standards Board
in Norwalk, Conn.
Council voted May 18 to designate the IASB for the first time as an
accounting body for purposes of applying IFRS in the U.S. Multimedia
content on the new Web site IFRS.com includes informational videos,
explanatory material about IFRS, training programs and links to useful
resources.
"Recognizing the accelerating pace of global acceptance of IFRS, we at
the AICPA are working to provide the U.S. accounting profession with the
tools CPAs need to learn about, understand and apply IFRS," Melancon said.
While a 55 percent majority of CPAs said in an April 24 - May 12 survey
by the AICPA that they expect U.S. introduction of IFRS will have a direct
impact on their firms and their work, 59 percent said they have not begun
to prepare for IFRS adoption. A minority of 17 percent said they were
actively preparing and 24 percent said they were having preliminary
discussions about how to get ready for IFRS, according to the survey of
1,240 respondents. The survey had a margin of error of plus-or-minus three
percentage points.
The AICPA introduced an 8-hour CPE course titled "International Versus
U.S. Accounting: What in the World is the Difference?" designed to teach
CPAs the significant differences and similarities between U.S. generally
accepted accounting principle (GAAP) and IFRS, analyze financial statements
prepared in accordance with IFRS, and standardize reporting in an
international environment.
On May 1, the AICPA released a draft proposal for public comment
outlining proposed content updates for the CPA exam. The proposal increases
emphasis on ethics and provides more in-depth descriptions of the skills
necessary for entry-level CPAs. It proposes including IFRS on the exam for
the first time.
About CPA2Biz
CPA2Biz is a majority-owned subsidiary of the American Institute of
Certified Public Accountants (AICPA). The company provides leading-edge
marketing and technology services to the AICPA to support its wide array of
products and services. CPA2Biz also develops and manages client-focused
programs under its Trusted Advisor and Business Solutions brands that
enable CPAs to build stronger relationships with their clients. For more
information, visit http://www.cpa2biz.com.
About the AICPA
The American Institute of Certified Public Accountants
(http://www.aicpa.org) is the national, professional association of CPAs,
with more than 350,000 members, including CPAs in business and industry,
public practice, government, and education; student affiliates, and
international associates.
The Institute sets ethical standards for the profession and U.S.
auditing standards for audits of private companies; federal, state and
local governments; and non-profit organizations. It develops and grades the
Uniform CPA Examination nationwide.
The AICPA maintains offices in New York, Washington, D.C., Durham,
N.C., Ewing, NJ, and Lewisville, TX.
Media representatives are invited to visit the AICPA Online Media
Center at http://www.aicpa.org/mediacenter
CONTACT:
William Roberts
Director - Media Relations
202-434-9266
wroberts@aicpa.org
SOURCE American Institute of Certified Public Accountants
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Related links:
http://www.aicpa.org
http://www.cpa2biz.com http://www.ifrs.com
http://www.aicpa.org/mediacenter
CONTACT:
William Roberts, Director - Media Relations,
American Institute of Certified Public Accountants,
+1-202-434-9266, wroberts@aicpa.org
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