Company Leaders Must Understand the Impact of IFRS across the Enterprise

       for a Successful Transition, According to Deloitte Whitepaper



    NEW YORK, Aug. 5 /EMWNews/ -- International Financial Reporting

Standards (IFRS) implementation is expected to result in significant

changes for companies and, in light of the regulatory landscape, the time

is now for companies to develop a plan for the accounting switch according

to a paper released today by Deloitte.



    The Deloitte paper, "International Financial Reporting Standards for

U.S. Companies: Planning for IFRS Adoption," provides analysis of the

planning process, which includes assessing technical accounting and tax,

process and statutory reporting, technology infrastructure and

organizational issues.



    "As economic turmoil has brought accounting and financial issues to the

forefront, investors, companies, regulators and the public are paying close

attention to how IFRS can impact financial reporting and market

conditions," said D.J. Gannon, a partner with Deloitte & Touche LLP and

leader of its IFRS Solutions Center. "IFRS emphasizes transparency in

financial reporting which, ultimately, is expected to provide financial

information that is more closely aligned with the economics underlying the

transactions and events accounted for in the financial statements. This is

expected to enable executives and investors to make proactive and

better-informed business decisions."



    The Deloitte paper is available at

http://www.deloitte.com/us/ifrs/planning . D.J. Gannon is available to

discuss in detail the varying business and systems implications that

companies should consider in adopting IFRS.



    To view this press release in its entirety, please click on the

following link: http://www.deloitte.com/us/pr/ifrsfulladoption

    About Deloitte



    As used in this document, "Deloitte" means Deloitte LLP and Deloitte

Services LP, a subsidiary of Deloitte LLP. Please see

http://www.deloitte.com/us/about for a detailed description of the legal

structure of Deloitte LLP and its subsidiaries.