This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IFRS education initiative

Date recorded:

Mike Wells presented the Council an update on the IFRS Foundation Education Initiative’s ‘Five Year Plan’, noting that he had last presented to the Council in 2011. He noted that the Initiative is focused on meeting facing the implementation issues identified, in particular:

  • Mindset change: investor-focused reporting (not tax, not government statistics, not prudential regulation, not…)
  • Skillset change: make judgements and estimates to apply IFRS (principle-based standards)
  • Capacity issues: underdeveloped accounting profession in many jurisdictions

He reviewed progress against the Five Year Plan, noting in particular ‘Framework-based’ teaching, supporting teachers to develop their students’ ability to make IFRS judgements and estimates. He introduced some of the case studies that are used.

The session was primarily for information and no significant interventions were made.

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.