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Lithuania - IFRS A summary of the current position
ACCA Continuing Professional Development Event - Latvia and Estonia ACCA Members
2 April 2008
Holiday Inn Hotel Conference Hall, Vilnius - Lithuania
The Continuing Professional Development event for ACCA Members took place in Lithuania with the topic: "IFRS: a summary of the current position".
All quoted companies in the EU now use IFRS, and many small companies with aspiration to being larger companies are changing to IFRS. IFRS financial statements are more understandable and acceptable worldwide, having been adopted or in the process of being adopted in over 100 countries.
In course of the event the participants were presented with:
- Summary review IFRS's from IAS 1 to 41 and IFRS 1 to 8 including relevant interpretations;
- Review of proposals for change and US GAAP harmonisation;
- IFRS for SME a review of the proposals;
- Lessons from the application of IFRS in Ireland and the UK.
The event was chaired by Aidan Clifford FCCA, FCA, DipIFR. Aidan works full time for ACCA as Advisory Services Manager, providing advice to accountants on technical auditing, accounting, ethical and investment business issues. He also lectures extensively for ACCA on auditing and accounting to qualified members and students both in Ireland and overseas. Aidan formerly worked as a Compliance Officer for ACCA, monitoring the compliance by professional accounting firms with auditing and professional standards.