24 October 2010
MUSCAT: PricewaterhouseCoopers (PwC), the leading professional services organisation, a seminar for financial professionals to discuss updates in International Financial Reporting Standards (IFRS) and their impact on businesses in Oman recently.
The key speakers included K. Srinivasan, partner of Assurance Services and Ashruff Jamall, partners, of Assurance Services, UAE; and Dinakar Munipalli, senior manager, Assurance Services, Sultanate of Oman.
Srinivasan is not new to Oman and was the key speaker at the 2009 seminar. He is a key member of the PwC Middle East practice and heads PwC's Regional Technical Group, IFRS.
Ashruff leads the firm's financial services practice in the UAE and is a member of PwC's Global Banking and Capital Markets Technical Committee and specialises in financial instruments, including IAS 32, IAS 39, IFRS 7 and IFRS 9.
Dinakar is a senior manager in the Oman firm's Assurance Services, is an experienced and key member of the PwC Oman firm's practice and is the local technical contact for IFRS issues.
The seminar, organised by popular request from previous participants, included discussions around recent changes in IFRS and their potential impact for organisations based in the Sultanate.
Overwhelming response.
The PwC's IFRS seminar held at the Grand Hyatt received an overwhelming response from its clients and the public at large.
Attendees included top finance professionals and senior executives from government institutions, banks, insurance companies, family owned businesses and publicly listed companies.
"Oman is a key market in the Gulf Cooperation Council (GCC) and is attracting an increasing number of investors who are reassured by organisations that apply international standards and best practice in their financial reporting," commented Kenneth Macfarlane, PwC Country senior partner for Oman.
"It's important for us to help our clients deepen their understanding of IFRS and further enhance the quality of financial reporting in Oman."
Macfarlane said: "The seminar provided a platform for PwC professionals to share their insights and explain the detail behind a number of challenging areas of the standards and to advise companies on how to ensure compliance. It was great to see familiar faces from last year's seminar and to get to know many new participants."
The speakers demonstrated an in depth knowledge of IFRS. Various key topics such as IFRS 3- Business Combinations, Equity accounting, IFRS 9 -- Financial Instruments and IAS 17 -- Leases, and proposed significant changes going forward were discussed. Several questions that were put up by the audience were answered by the speakers in the question and answer session that followed.
PwC provides industry focused assurance, tax and advisory services to build public trust and enhance value for its clients and stakeholders. PwC has around 140 people based in Muscat who work closely with colleagues across the Middle East and from around the world to bring the network's wide-ranging expertise to add value to their clients in Oman.
International Financial Reporting Standards (IFRS) provide the most widely accepted and commonly adapted accounting framework across the world today.
PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice.
Established in the Middle East for over 30 years, PricewaterhouseCoopers has offices in Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Oman, Palestine, Qatar, Saudi Arabia and the United Arab Emirates, with around 2,500 people.
PwC has changed its name from PricewaterhouseCoopers to PwC.
'PwC is the brand under which member firms of PricewaterhouseCoopers International Limited (PwCIL) operate and provide services. Together, these firms form the PwC network. Each firm in the network is a separate legal entity and does not act as agent of PwCIL or any other member firm. PwCIL does not provide any services to clients. PwCIL is not responsible or liable for the acts or omissions of any of its member firms nor can it control the exercise of their professional judgment or bind them in any way.
MUSCAT: PricewaterhouseCoopers (PwC), the leading professional services organisation, a seminar for financial professionals to discuss updates in International Financial Reporting Standards (IFRS) and their impact on businesses in Oman recently.
The key speakers included K. Srinivasan, partner of Assurance Services and Ashruff Jamall, partners, of Assurance Services, UAE; and Dinakar Munipalli, senior manager, Assurance Services, Sultanate of Oman.
Srinivasan is not new to Oman and was the key speaker at the 2009 seminar. He is a key member of the PwC Middle East practice and heads PwC's Regional Technical Group, IFRS.
Ashruff leads the firm's financial services practice in the UAE and is a member of PwC's Global Banking and Capital Markets Technical Committee and specialises in financial instruments, including IAS 32, IAS 39, IFRS 7 and IFRS 9.
Dinakar is a senior manager in the Oman firm's Assurance Services, is an experienced and key member of the PwC Oman firm's practice and is the local technical contact for IFRS issues.
The seminar, organised by popular request from previous participants, included discussions around recent changes in IFRS and their potential impact for organisations based in the Sultanate.
Overwhelming response.
The PwC's IFRS seminar held at the Grand Hyatt received an overwhelming response from its clients and the public at large.
Attendees included top finance professionals and senior executives from government institutions, banks, insurance companies, family owned businesses and publicly listed companies.
"Oman is a key market in the Gulf Cooperation Council (GCC) and is attracting an increasing number of investors who are reassured by organisations that apply international standards and best practice in their financial reporting," commented Kenneth Macfarlane, PwC Country senior partner for Oman.
"It's important for us to help our clients deepen their understanding of IFRS and further enhance the quality of financial reporting in Oman."
Macfarlane said: "The seminar provided a platform for PwC professionals to share their insights and explain the detail behind a number of challenging areas of the standards and to advise companies on how to ensure compliance. It was great to see familiar faces from last year's seminar and to get to know many new participants."
The speakers demonstrated an in depth knowledge of IFRS. Various key topics such as IFRS 3- Business Combinations, Equity accounting, IFRS 9 -- Financial Instruments and IAS 17 -- Leases, and proposed significant changes going forward were discussed. Several questions that were put up by the audience were answered by the speakers in the question and answer session that followed.
PwC provides industry focused assurance, tax and advisory services to build public trust and enhance value for its clients and stakeholders. PwC has around 140 people based in Muscat who work closely with colleagues across the Middle East and from around the world to bring the network's wide-ranging expertise to add value to their clients in Oman.
International Financial Reporting Standards (IFRS) provide the most widely accepted and commonly adapted accounting framework across the world today.
PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice.
Established in the Middle East for over 30 years, PricewaterhouseCoopers has offices in Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Oman, Palestine, Qatar, Saudi Arabia and the United Arab Emirates, with around 2,500 people.
PwC has changed its name from PricewaterhouseCoopers to PwC.
'PwC is the brand under which member firms of PricewaterhouseCoopers International Limited (PwCIL) operate and provide services. Together, these firms form the PwC network. Each firm in the network is a separate legal entity and does not act as agent of PwCIL or any other member firm. PwCIL does not provide any services to clients. PwCIL is not responsible or liable for the acts or omissions of any of its member firms nor can it control the exercise of their professional judgment or bind them in any way.
© Times of Oman 2010
