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Accountants to learn about international standards

A leading expert in international accounting standards will be giving delegates an insight into the latest developments in the field when he speaks at next month’s MGI UK and Ireland Partners’ and Managers’ Conference.

Olivier Servais is head of the working party on eXtensible Business Reporting Language (XBRL) – an electronic method of filing tax returns and annual accounts which will be compulsory for all UK firms by 2011 – at the International Accounting Standards Board (IASB).

The move towards all firms adopting XBRL is part of the IASB’s mission to develop a single, widely-understood set of international standards for all financial statements.

Mr Servais will give delegates an overview of how XBRL works and the implications for companies using it, including how to deal with any problems that may arise.

The UK and Ireland branch of MGI, the international association of independent accounting and consulting firms, is holding its annual gathering in Buckinghamshire from 26 to 28 November, under the title ‘The Future’s Bright – The Future’s Already Here’.

Paul Winder, chief executive officer of MGI UK and Ireland, said: “We’re delighted that Olivier will be joining us for our conference next month. MGI members know better than most how much business now takes place across international boundaries, so it is very important to be aware of the latest global standards.

“With XBRL due to be introduced in 2011, accounting firms should be starting to think about it now, and Olivier should be able to give them a valuable insight into how the technology works, as well as answering any questions or concerns some members might have.”

The event will be held at Lane End Conference Centre, close to Heathrow Airport, and non-members are welcome to attend. The cost per person will be £325 + VAT, including all food and accommodation. For more information visit www.mgi-uk.com or call 01825 872113.