IFRS: A Preparer's Point of View

IFRS adoption is a multiyear project that requires not only strong governance, but leaders who will sustain momentum over the life of the project. Creation of a steering committee under the oversight of the audit committee can help sustain this momentum and can provide high-level organizational support for the project. The steering committee should comprise senior management representatives from accounting, tax, communications, human resources, investor relations, legal, information systems, manufacturing and sales. (For more information, read the article in Journal of Accountancy, IFRS: A Preparer's Point of View.)