KPMG To Host Webcast On SEC Work Plan Exploring IFRS/GAAP Convergence

NEW YORK, July 20, 2012 /PRNewswire/ -- KPMG LLP, the U.S. audit, tax and advisory firm, will host a webcast to update business executives on the key features of the recently released final report from the staff of the Securities and Exchange Commission (SEC) on the Work Plan for consideration of whether international financial reporting standards (IFRS) should be incorporated for use by U.S. issuers.

The July 23 webcast, sponsored by KPMG's CFO Financial Forum, will take place at 12 p.m. EDT. Chief financial officers, other finance professionals and business professionals interested in attending the webcast panel discussion can register here.

During the webcast, partners and professionals from KPMG's Department of Professional Practice will review the commission staff's observations and analyses and will discuss the potential implications for U.S. businesses and next steps in the SEC's consideration of whether and if so, how and when, the incorporation of IFRS for use by U.S. issuers is in the interest of U.S. investors and capital markets.

The SEC staff's recently issued final IFRS work plan report summarizes its efforts and findings but did not provide any conclusions or recommendations for actions by the Commission.  KPMG professionals will outline the six areas that the staff was tasked with studying and the results of their efforts, which can be expected to inform the SEC's ongoing consideration of the topic.

KPMG has also created a summary of the staff's report, Defining Issues: SEC Staff Issues Final Report on IFRS Work Plan, available here.

Replays of CFO Financial Forum Webcasts and recent editions of "Defining Issues" are available from The KPMG Financial Reporting Network (FRN),  the single source for the latest, executive-level financial reporting insights for both U.S. GAAP and IFRS—all organized by topic and industry. It was designed to help executives keep in front of critical issues in today's evolving financial reporting environment. To visit FRN, click here.

About KPMG LLP

KPMG LLP, the audit, tax and advisory firm (www.kpmg.com/us), is the U.S. member firm of KPMG International Cooperative ("KPMG International"). KPMG International's member firms have 145,000 people, including more than 8,000 partners, in 152 countries.

SOURCE KPMG LLP

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