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Why Should You Attend:
The switchover from GAAP to IFRS is causing some concern on the part of accountants. They can see where having to make so many judgment decisions opens up the potential for fraud. There can be subtle pressure to use this discretionary power to fudge the numbers a little bit.
ComplianceOnline brings to you a full day virtual webinar session which will help you understand the IFRS basics and the risk areas and how to recognize the opportunities for fraud and develop strategies to deal with it. Whether you will be involved in preparing IFRS financial statements or analyzing those statements, come to this class to discover where the high-risk areas are and what you can do about them.
Learning Objectives:
- Understand the basics of International Financial Reporting Standards.
- Understand the big risk areas of IFRS.
- Recognize opportunities for fraud in IFRS.
- Develop strategies and policies for dealing with fraud in IFRS.
- Practice with practical examples.
Contents Overview:
Overview of IFRS:
- Deadlines
- First-Time Adoption
- Principles for decision-making
4 risk areas of IFRS and fraud:
- Asset valuation
- Revenue recognition
- Offsetting
- Reserves
The Fraud Triangle:
- Opportunity
- Rationalization
- Pressure/need
Red flags:
- Vague Management Discussion & Analysis
- Confusing financial statement notes
- Incomplete schedules, and others
Exercises, Examples and Interactive Discussion:
Practical examples, case studies and exercises will be dispersed into and between the presentations. About 50% of the time will be dedicated to discussions and practical sessions. Interactive discussions will follow short practical cases. The results will be discussed and conclusions will be documented by the presenter.
At the end of each module participants can ask verbal questions through the audio line. Written questions can be submitted at any time.
Who Will Benefit:
The following individuals or disciplines will benefit from attending this Webinar:
- Senior executives of Publicly Accountable Enterprises
- Finance, Accounting Unit Vice Presidents, Directors and Managers
- Internal auditors
- Regulatory and Compliance Management
- Consultants
- External Auditors
Instructor Profile:
Mike Morley, is a Certified Public Accountant who holds the top credit designations in the U.S., Canada, and the U.K. Mike is a recognized authority in the field of finance with more than 25 years experience.
An entertaining and informative speaker and trainer, Mike is the author of:
IFRS Simplified, which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.
Sarbanes-Oxley Simplified, which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.
Financial Statement Analysis Simplified which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.
