Wednesday, June 16, 2010

IFRS provides an opportunity to reconsider accounting policy elections and implementation

Five IFRS issues that merit attention of company boards

From the perspective of corporate boards, what are the most important IFRS (International Financial Reporting Standards) issues that merit attention? When posed this question, Mr N. Venkatram, IFRS Country Leader, Deloitte Haskins & Sells, Mumbai, comes up with a list of five issues — set the tone and develop an oversight plan; take a holistic view; determine timing and resource needs; understand the risks; and determine the need for board education.

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