BASSETERRE, St. Kitts – REQUIREMENTS of the recently-published International Financial Reporting Standards (IFRS) are expected to be discussed this month in a seminar for small and medium-sized enterprises within the Federation.
The training course will be presented by the St. Kitts-Nevis Chamber of Industry and Commerce (CIC) on October 28 at the Chamber’s conference room from 8:30 a.m.-4:30 p.m. The course is designed for accountants who are preparers, auditors or users of financial statements for entities not listed on a stock exchange.
International Financial Reporting Standards (IFRS) is a set of accounting standards developed by the International Accounting Standards Board (IASB) and it is quickly becoming the global standard for the preparation of financial statements by companies that trade on the open market.
This new standard, published in July 2009, has already been adopted in South Africa and is expected to be adopted shortly in several European countries. According to a press release issued by the CIC last week, the one-day seminar will cover all aspects of using the new IFRS for small and medium businesses.
“Participants can expect to learn how to decide whether to adopt the new standard, understand all the content of the new standard, resolve apparent conflicts and apply IFRS for Small and medium enterprises to practical accounting problems,” the report stated.
Local accounting instructor and consultant Dr Robertine Chaderton FCCA will be the facilitator of the event. She is the proprietor of Global Accounting & Finance Inc. and is a former lecturer in Financial Management, Accounting and Auditing at the University of the West Indies.
Chaderton also served as the Director of Banking & Operations at the Eastern Caribbean Central Bank.
CIC Executive Director Wendy Phipps said the seminar is the first in a series of training opportunities that the organisation will be presenting on the ongoing changes in IFRS.
“Given the rapid changes taking place in the global financial landscape, the Chamber expects that the business community will take advantage of this worthwhile, informative and timely seminar which will assist business owners and managers in staying current with international standards of financial reporting,” Phipps quoted in the CIC release.
All interested persons are asked to register for the seminar by contacting the Chamber at 465-2980/3967 or via e-mail at sknchamber@sisterisles.kn. Registration closes at 4:00 p.m. on Monday, October 26, 2009 or sooner should full capacity be reached.
