Ernst & Young LLP has released the second phase of International Financial Reporting Standards curriculum and teaching materials, as well as a national training for professors through its Academic Resource Center, in an effort to help universities prepare for IFRS adoption.
EYARC is a collaboration of faculty and professionals dedicated to helping the next generation of accounting professionals meet the fast-changing needs of the global financial markets. This second phase of curriculum provides additional IFRS resources intended to supplement typical U.S. university financial accounting coursework. This would include comprehensive and flexible materials that compare IFRS with U.S. GAAP such as a user guide, lecture notes, presentation slides, homework problems, illustrative disclosures, case studies and international spotlight features.
Given the roadmap issued by the SEC and the probability of mandatory adoption of IFRS in the U.S. in the relatively near time frame, we believe its a matter of when not if schools will need realign their educational programs to address IFRS learning, said Ellen Glazerman, Ernst & Young LLP, Americas directors of university relations. Even though IFRS is not currently mandated in the U.S. most of our multinational clients report under IFRS in some capacity, therefore demanding that knowledge from our professionals and the new campus recruits that we hire. We, along with universities, have a shared responsibility in accounting education.
EYARC held its first national IFRS training session in Cleveland last week for more than 60 faculty attendees from across the country. The first phase of the IFRS curriculum was released in January of this year.
Faculty who are interested in obtaining access to the private EYARC Web site should contact Catherine Banks, EYARC program director, at firstname.lastname@example.org.