IFRS experts to conduct workshops

Darrel Scott

Two well-renowned International Financial Reporting Standard experts (IFRS) arrived in Colombo recently to conduct a series of programs on the invitation of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). Foreign experts, board member of the International Accounting Standards Board (IASB) and Chairman of the SME Implementation Group, Darrel Scott and Director of the IFRS Education Initiative, Michael Wells,will conduct a series of programs in Colombo focusing on IFRS for the benefit of CFOs, preparers of financial statements, auditors, regulators and members of the academia.

During their stay in Colombo, Scott and Wells will conduct a three-day workshop on IFRS for SMEs, supported by the Asian Development Bank.

The workshop will be followed by two CFO fora organised by CA Sri Lanka, featuring Scott who will speak on 'Sustaining IFRS Adoption' specifically targeting CFOs of banks, financial services and the insurance industry, while the second CFO forum will be conducted by foreign experts who will speak on the same topic targeting a wider audience of CFOs.

Darrel Scott was formerly CFO of the FirstRand Banking Group, one of the largest financial institutions in South Africa. He was also a member of the IASB's International Financial Reporting Interpretations Committee (IFRIC), a position from which he resigned to become an IASB member, and was formerly a member of the IFRS Foundation's Standards Advisory Council (SAC), now called the IFRS Advisory Council.

Michael Wells qualified as a South African Chartered Accountant with Ernst and Young.

He later joined the academic world and became the Associate Professor for the financial accounting section of a South African university. He is a member of several international accountancy education advisory groups.