OREANDA-NEWS. November 20, 2007. Ernst & Young, a leading worldwide audit and consulting firm, announces that the IFRSs in Russia conference will be held on November 26-27, 2007, at the Hotel Baltschug Kempinski, Moscow. This new initiative of Ernst & Young devoted to International Financial Reporting Standards (IFRSs) issues in Russia is aimed at assisting companies in the transition to IFRSs. The event is organized by Ernst & Young in association with the International Accounting Standards Committee Foundation, the Ernst & Young press center reports.

The International Accounting Standards Committee Foundation is an independent body that oversees the International Accounting Standards Board (IASB). The IASB is committed to developing, in the public interest, a single set of high quality, understandable and enforceable global accounting standards that require transparent and comparable information in general purpose financial statements. In addition, the IASB co-operates with accounting standard-setters to achieve convergence in accounting standards around the world.

"We expect this conference to become one of the key IFRSs events in Russia. Ernst & Young is bringing together the IASB, local regulators, large entities that report under IFRSs, and financial analysts. This will provide a unique opportunity for companies to meet and question international and local experts and decision makers from various perspectives on the transition to IFRSs in Russia," said Dmitry Weinstein, a partner in Ernst & Young's International Financial Reporting Group.

In the course of the conference, delegates will have a chance to learn more about the following issues of transition to International Financial Reporting Standards:

- Transition to IFRSs in Russia;
- Current developments;
- IFRSs from preparers' perspectives;
- IPO readiness;
- Implementation of IFRSs for Russian banks: regulation and supervision;
- International acceptance of IFRSs;
- IFRSs from the global capital markets perspective.

Speakers at the conference include Robert Garnett and Jan Engstrom, members of the International Accounting Standards Board; Leonid Schneidman, Head of Department of Financial Control, Auditing and Accounting Regulation of the Ministry of Finance of Russia; Alexey Simanovsky, Head of Department of Regulation and Supervision of the Central Bank of Russia; Vladimir Milovidov, Chairman of the Federal Service for Financial Markets, and others.