New leadership for Deloitte's IFRS Global Office

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14 Jun, 2010

After 10 years leading the DTT IFRS Global Office in London, Ken Wild retired on 31 May 2010, and a new leadership team under the direction of Joel Osnoss and Veronica Poole took the helm on 1 June 2010. Additionally, Randall Sogoloff, has been appointed as DTT Global IFRS Communications Leader.

Given the increased adoption of IFRS as the de facto accounting language worldwide, the importance of having a high-quality, consistent approach to IFRS has never been more evident.

The leaders of the Group of 20, who represent 19 of the world's largest national economies plus the European Union, have called for the world to coalesce around a single set of financial reporting standards by June 2011, and IFRS is undergoing a series of changes to become that single set of standards. While the acceptance of IFRS is widespread, it is not yet universal. However, the trend is continuing, with more countries, such as Brazil, Canada, and Korea, adopting IFRS in the next few years. The two most recent and notable actions in line with this trend came from the United States and Japan, which are home to 40 percent of the Global Fortune 500 companies. Japan's Financial Services Authority decided in December 2009 to permit voluntary use of IFRS, while the Securities and Exchange Commission in the United States in February published a plan for making a decision on the adoption of IFRS in 2011. In light of the changing IFRS landscape, clients globally, as well as Deloitte member firm professionals in all functions and virtually all geographies, are likely to be affected by IFRS over the next few years.

The new Deloitte team has taken a fresh look at Deloitte-branded IFRS publications, and has enhanced format and content to make them even more informative as well as more multifaceted. Among the new suite of publications being launched are:

  • IFRS in Focus: This newsletter will cover important accounting developments and provide commentary to help member firm practitioners understand how they will be affected.
  • IFRIC Review: This new communication tool will examine matters discussed at the IASB's IFRS Interpretations Committee. The publication will offer insights on issues discussed during these meetings.
  • Industry-Focused Publications: As developments unfold in connection with IFRS, the insights of industry leaders will be leveraged through these publications, highlighting issues and opportunities pertaining to specific industries.

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