Luxembourg, 1 September 2003 - Misys Wholesale Banking Systems announced
today that it is co-organising a conference with the International Accounting Standards Board (IASB) to be held in Luxembourg on Thursday 25 September 2003. Following directly after the IASB committee meetings with world standard setters and national representatives, on 22 and 23 September respectively, the event will be an ideal opportunity for financial institutions to get the latest updates and discuss the burning issues relating to International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) in Europe and worldwide.
The event, taking place at the Hotel Parc Belle-Vue, will allow delegates to
meet the local and international experts, raise questions and discuss any new requirements with the regulatory and industry panellists. There will be speeches and discussions assessing the practical problems of migration to IAS and how these can be resolved. It will also be possible to explore pertinent topics such as the impact of IAS transition on the banking sector (for example, the tax implications) and the relationships between IAS39 and Basel II. In addition, there will be a solutions room giving attendees the opportunity to examine and discuss the practical application of IAS guidelines and regulatory compliance in Misys solutions.
This conference is part of a series of IASB presentations throughout Europe
highlighting the transition to IFRS and related issues for EU publicly-listed companies in 2005. Misys has been involved in hosting a number of such informative events for the banking industry - not least regarding the crucial IAS guidelines, on the subject of which, they organised two seminars last year in Singapore and Luxembourg as well as sponsoring one in Moscow, all in alliance with IASB. Pierre Servais, Misys' Regional Manager for Luxembourg, Belgium and France, comments: "We recognise the huge importance of regulations such as IAS39 and Basel II to our customers and endeavour to keep them informed on how this affects them and what we can do to help." He adds: "In anticipation of these needs, we prepared some time ago not only to provide IAS39 solutions for users of our own systems but also to facilitate compliance for institutions that are currently using other, non-compliant systems."