MUSCAT — PricewaterhouseCoopers’s IFRS Seminar held at Grand Hyatt Muscat recently received an overwhelming response from its clients and the public at large. Top finance professionals from various government institutions, publicly listed companies, banks, insurance companies, brokerage companies, large trading houses and several family owned businesses in the Sultanate actively participated in the PwC event.
The seminar highlighted several key changes to the International Financial Reporting Standards (IFRS) that affect the financial statements of the entities going forward. Kenneth Macfarlane, Country Senior Partner of PwC, highlighted the importance of IFRS and its global recognition as an accounting framework. He also spread the message as to how such seminars are an important part of the knowledge building exercise. It helps finance professionals to enhance accounting knowledge and keep themselves abreast with the various amendments that are continuously made by the Accounting Standards Board.
The participants appreciated the main presenter, K Srinivasan, an experienced Senior Partner from PwC’s core technical team for demonstrating an in-depth knowledge and mastery over IFRS. In addition to all changes going forward, he covered various key topics such as accounting for business combinations and IFRS for Small and Medium Enterprises. In an elaborate question-answer session, several questions that were put up to him were answered precisely clarifying the key points raised by the participants.
The PwC Oman Seminar also included a very relevant topic titled, “Managing the Downturn and the Revival” presented by Stephen Anderson, Head of Advisory Services Partner, PwC Qatar. The session shared some insights and experiences with organisations to manage through downturn environments. The criticality of the role of finance professionals was well highlighted by Anderson through a 10 Point CFO Survival guide which was well appreciated by the audience. PricewaterhouseCoopers provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and its stakeholders.
By Staff Reporter
© Oman Daily Observer 2009
