Making boardrooms IFRS friendly

The Sri Lanka Institute of Directors (SLID), in an initiative to make Sri Lankan boardrooms IFRS friendly, will tackle this timely issue at a power evening to raise boardroom level awareness.

Titled ‘Demystifying IFRS,’ the event will feature Ernst & Young Melbourne Partner, Asia Pacific Area Desk John O’Grady as the keynote speaker.

The event titled ‘De-mystifying IFRS’ will be held on Wednesday, 19 October 2011 from 5 p.m. to 7 p.m. at the Moonstone Ballroom, Ceylon Continental Hotel.

With all Specified Business Enterprises (SBE), as defined by the Sri Lanka Accounting & Auditing Standards Act, having to converge with the International Financial Reporting Standards (IFRS) with effect from their financial year commencing 1 January 2012, this event will raise sufficient awareness of the impact of IFRS on the reporting of the operations of a company. John O’Grady is a Partner in the Ernst & Young Assurance practice in Australia based in the Melbourne office with almost 30 years experience in the provision of audit and accounting services.

He is also a Partner in the Australian Professional Practice Group and is the Asia Pacific Area IFRS Leader responsible for the quality of IFRS accounting advice to the clients in the Asia Pacific, the interpretation of accounting pronouncements, the preparation and communication of accounting guidance to assurance professionals and the development of IFRS training courses.

John is also involved in formulating the firm’s responses to proposals for development of accounting standards in Australia, and its responses to developments in International Financial Reporting Standards.

He is a Member of the Australian Accounting Standards Board, the Policy Committee as well as Ernst & Young’s Global IFRS Policy Committee which is responsible for setting Ernst & Young policy around IFRS application and reporting and the consistent interpretation of IFRS across the firm globally.

John is a registered company auditor and formerly audit engagement partner on the audits of several large publicly listed companies and a Fellow of the Institute of Chartered Accountants in Australia and Ireland.

He has worked in a professional capacity in Australia, the United States, United Kingdom and Ireland.

He spent two years in the United States developing global audit methodologies and worldwide training programmes for Assurance personnel.

John has conducted several training courses on behalf of The Institute of Chartered Accountants in Australia and the Australian Society of Certified Practicing Accountants on accounting and auditing topics. Contact Rochelle for registrations: 2399009 or 2399000 [email protected].