Deloitte launches IFRS global virtual series 

25 January, 2021 – Deloitte Middle East recently launched an IFRS global virtual series which drew registrations from over 50 countries. The virtual series ran for three days with more than 4,000 registrations from the USA, Middle East, Europe, India, Cyprus, and several other countries. 

As a result of the COVID 19 pandemic, a number of IFRS Standards are affected especially Standards relating to “Financial Instruments”, impairment of assets, going-concern assumptions and management assessments of whether a company will be able to continue its operations, among others. To support clients and stakeholders, Deloitte created the IFRS Master Classes, in order to provide attendees with practical implementation guidance in order to be able to properly apply such Standards. 

“The Deloitte IFRS virtual series was offered to the members of various professional accounting bodies and the public at large. It was a unique knowledge-based initiative through which we were able to share our knowledge and practical experience in applying complex developments in “IFRS” with so many professionals spread across several countries,” said Maher Khalil, Consulting Partner, Chief Operating Officer, Deloitte Middle East, in his inaugural address at the outset of the global series which just concluded.

The key features of the Deloitte IFRS global virtual series 2020 included presentations on complex IFRS standards by internationally-renowned speakers and authors of IFRS publications, in-depth technical analysis by Deloitte global and regional IFRS specialists of the latest IFRS Standards (including IFRS 9, IFRS 15, IFRS 16 and IFRS 17), wherein these presenters shared interpretations of “IFRS”, based on their practical implementation knowledge of these Standards.

“This learning journey which we embarked upon for a period of 3 days involved intense technical deliberations during which several complex queries were raised by participants which were addressed by expert presenters and panelists” said Abbas Ali Mirza, Audit & Assurance Partner, Deloitte Middle East who delivered the thematic address at the event on the “financial reporting implications of COVID 19”. “The Deloitte IFRS series was offered at no cost to participants in keeping with our philosophy of investing in serving our clients and stakeholders of the accounting and finance fraternity at large. We look forward to hosting more of these virtual series through the new year.”

About Deloitte & Touche (M.E.) LLP:

Deloitte & Touche (M.E.) LLP (DME) is the affiliate for the territories of the Middle East and Cyprus of Deloitte NSE LLP (“NSE”), a UK limited liability partnership and member firm of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”).

DME is a leader in professional services with uninterrupted presence in the Middle East since 1926 with 26 offices in 14 countries and around 5,000 partners, directors and staff. DME’s presence in the Middle East and Cyprus is established through its affiliated independent legal entities, which are licensed to operate and to provide services under the applicable laws and regulations of the relevant country. DME’s affiliates and related entities cannot oblige each other and/or DME, and when providing services, each affiliate and related entity engages directly and independently with its own clients and shall only be liable for its own acts or omissions and not those of any other affiliate.

About Deloitte:

Deloitte refers to one or more of DTTL, its global network of member firms, and their related entities. DTTL (also referred to as “Deloitte Global”) and each of its member firms are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL, NSE and DME do not provide services to clients. Please see www.deloitte.com/about to learn more.

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