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IFRS experts in Colombo to conduct CA Sri Lanka workshops

Two well-renowned International Financial Reporting Standard Experts (IFRS) arrived in Colombo to conduct a series of programmes on the invitation of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka).

Well versed foreign experts Darrel Scott, board member of the International Accounting Standards Board (IASB) and Chairman of the SME Implementation Group and Michael Wells, Director of the IFRS Education Initiative will conduct a series of programmes 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, which is also supported by the Asian Development Bank.

The three day workshop will be followed by two CFO Forums organized 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 jointly conducted by both 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.

Mr. Scott 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 & Young. He subsequently joined the academic world and became the Associate Professor responsible for the financial accounting section of a South African university. He is a member of a number of international accountancy education advisory groups.