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.”