The next webcast in our IFRS series will be held on Wednesday, September 23, from 2:00 p.m. to 3:00 p.m. (ET).  In this webcast, our panel of specialists will discuss the IASB's release of IFRS for Small and Medium-sized Entities (SMEs) and continued global adoption of IFRS for statutory reporting purposes, focusing on the associated impacts for US companies. Archives for our earlier webcasts can be found here or on www.pwc.com/usifrs/webcasts.

Overview
International Financial Reporting Standards ("IFRS") has been affecting US companies for some time - through business dealings with non-US counterparties (particularly with customers and vendors), convergence between US GAAP and IFRS standards, and through non-US subsidiaries that have already adopted IFRS for local statutory reporting purposes.

The impact of continued global IFRS adoption for statutory reporting purposes is likely to increase in the near term following the IASB's recent issuance of IFRS for SMEs.  The release of this standard may trigger an increase in the number of countries where IFRS replaces existing national GAAP as the primary basis for local statutory financial reporting. As such, it is important for companies to be aware of proposed changes, maintain appropriate oversight, anticipate the impact and plan accordingly. 

Speakers on our webcast panel will:

• Present an overview of continued global adoption of IFRS,
• Provide an overview of the SME standard,
• Explore differences between US GAAP and IFRS for SMEs, as well as high-level differences between full IFRS and IFRS for SMEs,
• Explain how companies may be impacted, and
• Discuss actions companies should be taking now.

Participants will gain a heightened understanding of these changes as well as an understanding of the steps they should take next.

For more information regarding registration for the course, complaints and/or program cancellation policies, please contact the IFRS Webcast Team by email at PwC.IFRS.Communications@us.pwc.com.