FinArch, international vendor of financial management software, is staging an international programme entitled ‘the IFRS Academy’, in Asia, in order to assist banks and financial institutions in their compliance to IFRS/IAS standards. In addition, the company launches a dedicated website with comprehensive information on IFRS/IAS, www.ifrsforbanks.com.
For a number of Asian banks, the deadline is approaching to comply with IFRS. Aware of the challenge banks are facing in order to adhere to these standards, FinArch is organising an IFRS Academy in collaboration with its local partners in the region.
“In a very short time frame, banks in some Asian countries need to get prepared for IFRS,” says Chris Puype, COO and director of Asia at FinArch states. “It is not a straight forward process, but at the same time it provides a unique opportunity to review the entire valuation, accounting and reporting flow. FinArch has already implemented successfully many IFRS projects in Europe. Therefore we feel that by sharing our knowledge and experience, we can support Asian banks in their transition to IFRS.” he adds.
The IFRS Academy consists of a series of intensive workshops that will provide the participants with a deeper insight into the complexities of the International Financial Reporting theory. They will receive practical information on the topic to better understand the principles and measures of IAS/IFRS accounting and the differences from key national GAAP standards.
The kick-off seminar will be preceded by a roundtable discussion which will feature prominent panel members from leading banks and organisations, a.o. Guido Ravoet, Secretary-General of the European Banking Federation.
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