SOURCE: Marks Paneth & Shron LLP

Marks Paneth & Shron LLP

April 01, 2010 10:01 ET

Marks Paneth & Shron Provides Insight on Implementing International Financial Reporting Standards (IFRS) in Roundtable Discussion Published by Financier Worldwide

NEW YORK, NY--(Marketwire - April 1, 2010) - Steven L. Henning, Ph.D., CPA, Partner-in-Charge of the Litigation and Corporate Financial Advisory Services Group at Marks Paneth & Shron LLP, participated in a roundtable discussion on the topic of implementing International Financial Reporting Standards (IFRS). The discussion was published in a recent issue of Financier Worldwide.

Along with panelists from around the US and abroad, Dr. Henning discusses:

  • The key arguments that support a global convergence of accounting principles.
  • The benefits and challenges of making IFRS the worldwide standard.
  • The perceived problems with fair value accounting and how IFRS could serve to overcome them.
  • Regulatory challenges related to converting from a rules-based to a principles-based accounting system.
  • Ways the SEC will likely monitor and reinforce IFRS compliance.
  • How companies can prepare to manage the costs associated with transitioning to IFRS.

The full text of Dr. Henning's roundtable discussion can be found in the Marks Paneth & Shron Library.

To speak with Dr. Henning about IFRS issues and how companies can prepare for the transition, please contact Itay Engelman of Sommerfield Communications at 212.255.8386 or via email at itay@sommerfield.com.

About Marks Paneth & Shron

Marks Paneth & Shron LLP is an accounting firm with nearly 475 people, of whom 64 are partners and principals. The firm provides businesses with a full range of auditing, accounting, tax, bankruptcy and restructuring services as well as litigation and corporate financial advisory services to domestic and international clients. The firm also specializes in providing tax advisory and consulting for high-net-worth individuals and their families, as well as a wide range of services for international, real estate, media, entertainment, nonprofit, professional and financial services and energy clients. Visit www.markspaneth.com for more information.

About Steven L. Henning, Ph.D., CPA

Steven L. Henning, Ph.D., CPA, is the Partner-in-Charge of the Litigation and Corporate Financial Advisory Services Group at Marks Paneth & Shron LLP. He has more than 20 years of experience in public accounting, securities litigation, consulting related to US Generally Accepted Accounting Principles (US GAAP), International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS) as well as teaching at the university level.

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