Ready for convergence?

• Position: Calendar

The complexity of today's financial reporting disclosures falls short of meeting the information needs of investors. A potential solution to this growing problem is the convergence of U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).

Rules-based vs. principles-based standards will need to be harmonized in a new reporting model built on principles-based standards that are simpler to adopt and interpret.

7:00 am >> Pre-Conference Breakfast Session | 1 additional CPE credit Automated External Reporting & Converting from GAAP to IFRS

This session will examine a case study of an organization that is moving from GAAP to IFRS to illustrate the issues associated with moving to a new accounting standard.

8:15 am >> Opening and Introductory Remarks

MICHAEL P. CANGEMI

President & CEO, Financial Executives International

8:30 am >> Keynote | RICK KETCHUM

CEO, New York Stock Exchange Regulation

9:20 am >> Roadmap to Convergence -- Part I: Standards-Setters Objectives & Perspectives

This panel will provide background regarding the accounting and auditing challenges of international financial reporting convergence. Key standard-setters will address the Financial Accounting Standards Board (FASB)/International Accounting Standards Board (IASB) Norwalk Agreement; continuing progress in developing converged U.S. GAAP and IFRS standards, as well as the complementary balance in converged audit standards.

Moderator

* DAVID MORRIS President, Morris Consulting and Member, Consultative Advisory Group, International Auditing and Assurance Standards Board

Panelists

* ROBERT H. HERZ Chairman, Financial Accounting Standards Board

* THOMAS E. JONES Vice-Chairman, International Accounting Standards Board

* MARK W. OLSON Chairman, Public Company Accounting Oversight Board

* CRAIG W. CRAWFORD Member, International Auditing and Assurance Standards Board (IAASB)

10:35 am >> Break

10:50 am >> Roadmap to Convergence -- Part II: Regulatory Perspectives of the U.S. and the European Commission

As standards-setters work through the challenges of creating a future converged set of accounting standards, the financial market regulators must also address the current state of U.S. GAAP and IFRS reporting for U.S. and non-U.S. filers. This panel will focus on the "IFRS Roadmap" and include a discussion of proposed U.S. Securities and Exchange Commission rules for reporting in IFRS or GAAP for U.S. companies and foreign...