Jamaica Invited to Share IFRS Experience at Geneva Conference

The United Nations Conference on Trade And Development (UNCTAD), based in Geneva, has invited Jamaica to participate in its 23rd Session of Inter-governmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR). This will be held in Geneva from October 10 -12, 2006.

The special invitation was extended to ICAJ following UNCTAD's decision earlier this year to use Jamaica as one of the five countries to participate in its case studies on IFRS implementation. The case studies on IFRS implementation issues will be presented at the 23rd Session of ISAR.

This session of ISAR will deliberate two main agenda items - "Review of Practical Implementation Issues of International Financial Reporting Standards (IFRS)" and "Comparability and Relevance of Existing Indicators on Corporate Responsibility." The deliberations on IFRS will include a panel discussion on the accounting and financial reporting needs of small and medium-sized enterprises (SMEs).

Council Member and Chairman of the ICAJ's Accounting Standards Committee, Dennis Brown, will represent the Institute at the ISAR session. Mr. Brown spearheaded the initiative for Jamaica's adoption of International Accounting Standards (now International Financial Reporting Standards) on July 1, 2002. Under his leadership, the Accounting Standards Committee continues to provide technical support to members and other stakeholders in effectively implementing and applying IFRS locally.

Mr. Brown will share Jamaica's experience with its implementation of IFRS during the session on the review of practical implementation issues of IFRS. During this session, case studies will also be presented for Brazil, Germany India and Kenya. He will also attend a technical workshop on IFRS, organised by the UNCTAD Secretariat that will be held in Geneva on October 9 prior to the start of the 23rd session of ISAR.

The ISAR session will be attended by prominent speakers from the European Commission, the International Accounting Standards Board (IASB) and the International Federation of Accountants (IFAC).



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