Baku, Azerbaijan, Oct. 9
EY Azerbaijan held its annual seminar for clients on the latest changes to International Financial Reporting Standards (IFRS) at the Fairmont Baku Hotel on 9 October 2015.
The seminar was led by EY IFRS specialists including Vadim Shelaginov, EY Moscow Assurance Manager, Nazli Khankishiyeva, EY Baku Assurance Manager, and Yokub Sharafitdinov, EY Baku Assurance Manager. Major international and local companies participated in the seminar, including banks operating in Azerbaijan.
The presentations focused on recent IFRS updates and their practical implementation. The participants discussed how to resolve practical issues during the session.
"Although no significant new standards with mandatory initial application in 2015 and 2016 have been issued, there are a number of amendments to existing IFRS that may impact current accounting practices. In addition, we recommend that our clients prepare during 2016-17 for the application of IFRS 9 and IFRS 15, which take effect from 1 January 2018. These issues were covered by our annual seminar," said Vadim.
"This was the second year in which I have participated in this seminar as a facilitator. It was a great pleasure to discuss accounting updates with our clients. We covered key practical issues related to the implementation of newly issued standards and their interpretations. I hope that our guests found our seminar helpful and that they will successfully implement the new information at their organizations", added Nazli.
Milana Aliyeva, VTB Bank Azerbaijan, commented: "The training was very useful and to the point, and the good presentation skills kept it lively. I learned a lot that I can apply at work. As always, EY shows quality in everything they do. I'd like to thank them for organizing this training!"
EY was delighted to see all the participants at the seminar and thanks each of them for their enthusiastic participation!
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EY in Azerbaijan
EY made a major commitment to Azerbaijan and the region with the opening of our office in Baku 21 years ago. Today, in addition to being the leading audit firm in Azerbaijan, we are the leading firm in the region. Because of our experience and depth of knowledge, we have been able to assist both domestic and international companies as well as state-owned entities in developing and in facing the challenges of the international economy.
We currently have more than 170 staff in our Baku practice, who serves our clients in Azerbaijan. EY's strength in the Caspian Region and the firm's commitment of resources are important to the entities operating in the region. It means that as we grow, EY will continue to demonstrate a tradition of hiring and training local professionals to be leaders in our practice.
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