The global advancement of International Financial Reporting Standards (IFRS) is continuing to occur in jurisdictions all over the world. Several jurisdictions, including the United Kingdom, Brazil, Japan and the United States, have taken or are in the process of taking steps to require or permit the use of IFRS for financial and/or statutory reporting purposes. In fact, the US Securities Exchange Commission (SEC) is slated to make a decision on whether and how to incorporate IFRS into the US financial reporting system before the end of the calendar year. Beyond formal adoption of IFRS, the FASB and IASB are continuing to progress with their initiative to converge a series of US GAAP and IFRS accounting standards, including revenue recognition and leases. As a result, the tax functions of many U.S.-based multinationals must now incorporate and/or prepare for IFRS in their planning and accounting, as well as their processes, systems, and controls. Regardless of how the SEC proceeds with IFRS in the U.S., tax executives need to know how IFRS is impacting their tax functions now — in their subsidiaries, as well across the entire organization — and what they can do to mitigate unforeseen implications and identify potential opportunities.This presentation will focus on the following:
The dialogue will feature a mixture of perspective on the tax implications of IFRS, including thoughts from the U.S. and U.K. taxing authorities, a Fortune 50 Company, and the leader of a Big Four accounting firm's tax accounting services practice.
The objectives of this 60-90 minute audio discussion include providing participants with a conceptual understanding and practical application of the following:
Upon completion of this program, participants will be able to:
Level: Intermediate to Advanced
Delivery Method: Group Live
Recommended CPE Credit: 1 credit
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Cyndi Lafuente, Tony Sadler (or Adeline Chan), Aaron Anderson, Ken Kuykendall, Steve Burkholder
Cyndi Lafuente, Senior Advisor to the Deputy Commissioner (International) Large Business & International at Internal Revenue Service
Tony Sadler (or Adeline Chan), HM Revenue & Customs, CT, International and Anti-Avoidance, Financial Product and Services Team
Aaron Anderson, Director IFRS Policy & Implementation, IBM Corporation
Ken Kuykendall, Partner - PricewaterhouseCoopers LLP, U.S. Tax Accounting Services and IFRS Tax Leader
Steve Burkholder, Senior Correspondent, Daily Tax Report