Each of the top-tier firms is, in its own way, getting involved in college curricula for global accounting.
Roy Harris, CFO.com | US
May 22, 2008
Could the enthusiasm for IFRS possibly be related to the significant training revenue opportunity for the big 4? How about a few comments on the implications of management estimates and opinions in a principle based system versus a rules based system?
Posted by Raymond Darke | May 23, 2008 10:15 am
You really have to admire the Big 4, first they managed to emerge from the early years of Sarbanes Oxley flush with fresh revenues and now they'll use that money to help mecenaries like Cox displace GAAP. The end game is to have a global supply of pawns (speaking as a former Big 4 victim, I can't help but snicker when I think that working at Walmart & the Big 4-earns one the same title-"associate")who'll trade long hours for a chance as permanent U.S. residency.
Posted by Super Heater | May 22, 2008 06:08 pm
With the headlong rush by SEC Cox and FASB Herz to adopt IFRS in place of GAAP, curiculm and textbooks on the subject matter must be developed on a priority basis so that the students can be taught to deal with this pending upheaval. Help from the Big 4 is necessary since the college faculty has its hands full keeping up with and teaching GAAP and therefore has limited time and resources to put together the materials to structure the courses to teach IFRS as well. Since the Firms are not being reimbursed for their effort, the benefit to them will come through brand recognition at the schools which is important for recruiting. Seems to me to be a win/win situation.
Posted by Gary Cademartori | May 22, 2008 04:17 pm
IFRS implementation has been mandated in Canada for "publicly accountable" enterprises effective for years beginning January 1, 2011. It was interesting to read the information here about IFRS education in US universities. I have not heard of any such initiatives in Canada. Worth a follow up in my public blog-http://ifrscanadadevilisinthedetails.blogspot.com/ There are some observations on this topic in the CFERF Report "IFRS Readiness in Canada" page 27 - which can be downloaded for free on the FEI Canada website.
Posted by Darla Sycamore | May 22, 2008 03:59 pm
Great reference guide to all the sites offings on IFRS. I agree the accounting firms are approaching the universities with their "needs" for IFRS, and industry should not take a "wait-and-see" approach.
Posted by James Blackwell | May 22, 2008 03:59 pm© CFO Publishing Corporation 2009. All rights reserved.