KPMG LLP sets up IFRS Institute

KPMG LLP is planning to
set up a KPMG IFRS Institute aimed at fulfilling the information needs of
companies, investors, academics and others affected as US companies make the
transition to International Financial Reporting Standards (IFRS).

‘As companies expand their reach and economies globalise, the ability to
compare financial statements across borders has become imperative,’ Timothy
Flynn, KPMG LLP chairman and CEO, said. ‘The question about whether the world is
going to global standards is no longer “if”, but “when”.’

‘We believe a single set of accounting standards used globally will benefit
both companies and investors,’ Flynn said. ‘The KPMG IFRS Institute will
increase awareness about IFRS and give a voice to each participant in the
financial reporting process.

The Institute will hold its inaugural IFRS webcast on May 1. It will be
hosted by KPMG partner Janice Patrisso, who has been named director of the IFRS

Further reading:

Key IASB project is ‘not under-staffed’

Profile: Sir David Tweedie, setting the standards

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