Ernst & Young holds IFRS update seminar in Baku

Ernst & Young Holdings (CIS) B.V. organized a seminar related to the latest changes in International Financial Reporting Standards (IFRS) on 4-5 December, 2012. This seminar was delivered by Ernst & Young qualified IFRS specialists from Financial Reporting Group of Moscow office. The presentation was focused on updates to IFRS issued recently that are effective for 2012 and 2013, and provided guidance on their implementation. In addition the training covered hot topics related to IFRS.

This seminar is organized on annual basis and hosts participants from major multinational and local companies operating in Azerbaijan.
The participants were interested in a number of topics such as IFRS 10 "Consolidated Financial Statements", IFRS 11 "Joint Arrangements", impairment tests etc.

Zahra Taghiyeva, SD JV Accounting Lead of BP Exploration Caspian Sea Ltd was grateful for arranging the IFRS update training and shared the experience: "I would like to thank the presenters and highlight very professional yet welcoming environment they created during the training session. Most of the IFRS updates presented during the session were industry related, training material was audience oriented and supported by good examples. Training was very interactive, full of insightful discussions and case studies. There was outstanding choice of the venue, great overall organization and facilitation of the event. These trainings became a good practice and we are looking forward to the next event."

Khuraman Mehdiyeva, Head of Accounting Methodology Division of SOCAR added: "The seminar, which was organized at a very high level, was remarkable for its importance for SOCAR employees in terms of practical application of recent innovations to IFRS. The information presented at the seminar on the latest developments to various IFRS standards and new interpretations issued by IFRIC was very interesting for specialists of SOCAR. Such seminars are particularly relevant and well-timed for SOCAR employees."

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