IIM-A,Deloitte Haskins & Sells team up to create awareness on IFRS

According to the premier management institute,the training will focus on creating awareness on IFRS technical requirements and the implications on business operations. It will also address the issue of capacity building across companies through a series of training programmes on reporting issues,investor relations and cross-border transactions.

Stressing on the need for such collaboration,IIM-A authorities said that the increasing complexities of business transactions and globalisation of capital markets require transparency in financial reporting and disclosures.

Consequently,more than 100 countries have adopted IFRS at present,with the Institute of Chartered Accountants of India (ICAI) committing that IFRS would be adopted for the public interest entities such as listed firms,banks,insurance companies and large-sized entities from the accounting periods beginning on and after April 1,2011.

IIM-A authorities further said that the institute would leverage on its strong network of 26,000-plus alumni as well as more than four decades of management education,research,consultancy and excellent physical infrastructure. Deloitte,on the other hand,would bring in extensive experience in terms of ‘content’-based implementation of IFRS across the globe.

IIM-A officials also stressed that the institute would introduce IFRS-based courses in its long-duration academic programmes and pursue research activities in this area.