On November 24, KPMG in Ukraine team held a series of seminars on "The new requirements of International Financial Reporting Standards (IFRS)". In fact there were two seminars: the first one was held for the representatives of holdings, the second one – for the representatives of banks and financial institutions.
The main speaker at two seminars was Aram Asatryan, Partner of the Development of Professional Practice Group, KPMG in Russia and the CIS. Aram has over 15 years of experience in IFRS at KPMG in the UK, Armenia and Russia as well as in the civil service in the department of methodology of financial reporting in the Ministry of Finance and Economy of Armenia.
During the first part of the seminar Aram Asatryan and Alexander Gavriliuk, Partner, Audit, KPMG in Ukraine, summarized information about changes in the financial reporting according to international standards that came into force in 2014, and spoke about the amendments that would take effect from 2015 or later. Particular attention was paid by the main speakers to the aspects of the application of new reporting standards IFRS15 "Revenues from contracts with customers" and IFRS 9 "Financial Instruments".
The second part of the seminar was devoted to changes in International Financial Reporting Standards (IFRS) 9 "Classification and measurement of financial instruments" and "Expected loss impairment". Vadym Kuntsevych, Director, Head of Financial Services, KPMG in Ukraine, and Aram Asatryan paid detailed attention to every aspect of the application of new standards, presented case studies and shared effective tips with participants.
The seminars had a huge success among the audience. They were attended by a record number of participants – 200 chief accountants and CFOs from 127 leading Ukrainian and international companies and financial institutions.
The organizers for the first time invited the leading lecturers of Kyiv National Economic University named after V.Hetman and International Relations Institute of Kyiv National University named after T.Shevchenko to the second seminar. They highly praised the event and expressed their sincere appreciation for the opportunity to convey practical information to their students. This once again confirms the high demand for KPMG experts in clarification of IFRS application for both practitioners and scientists.