Magistrates ConferenceECCU Accounting Professionals Receive Additional Training in International Financial Reporting Standards (IFRSs)

ECCB Headquarters

ZIZ News…April 25 2012 — Accounting professionals from the Eastern Caribbean Currency Union (ECCU) member countries will participate in the second Train the Trainers Workshop on the International Financial Reporting Standards (IFRSs), at the ECCB Headquarters in St Kitts and Nevis from 30 April to 4 May.

The IFRSs are a set of accounting standards developed by the International Accounting Standards Board (IASB), which are being adopted globally for the preparation of public company financial statements.

The objective of the workshop is to develop the capacity of regional financial reporting trainers to provide training in the use of the IFRSs. The areas to be covered during the five-day workshop include: the main principles of each IFRS and the main applicable estimates and judgements; accounting for insurance contracts and financial instruments; and reporting financial performance in accordance with the IFRSs. Mr Michael Wells and Mr Andrew Hyland of the IFRS Foundation, and Mr Darrel Scott, Member of the International Accounting Standards Board, will conduct the sessions.

The workshop, which is a partnership among the Institute of Chartered Accountants of the Eastern Caribbean (ICAEC), the IFRS Foundation and the Eastern Caribbean Central Bank (ECCB), is part of a World Bank sponsored project. The first of such workshops was conducted during the period 16 – 20 May 2011.