• Register
Return to: Home > News > Standards > Mid-tier network launches large scale technical training programme on international standards

Mid-tier network launches large scale technical training programme on international standards

UHY International has rolled out network-wide training on IFRS – the network’s first global technical training exercise.

Sixty senior level staff from the UHY firms in US, Canada and Latin and South America attended the course in June and there are plans to expand training further afield.

UHY International chairman John Wolfgang told the International Accounting Bulletin the programme was first conceived by senior partners at the network’s annual meeting last October.

“Following that, we formed a training group that would be laddered from an entry level of understanding to an advanced level of understanding and built a training programme on more technical capabilities. We can now start teaching our staff about IFRS and then over two or three years increase their knowledge base,” he said.

“I think if you are talking about the training as a group you are looking at putting about 200-300 people a year through that process,” he continued. “What we started with was training our high-level people back in June. Those people can utilise that training in local offices using the same books to do smaller training sessions. We have 22 offices in the US so having everybody go to that training programme would be a little bit more difficult.”

Although UHY International conducts global training on soft skills, this is the first time the network is sponsoring technical training, which is normally left to firms or regional clusters of firms to co-ordinate.

“From the soft skills side we have been globally training for a while, and we have a lot of internal training at our regional meetings and at our annual meetings,” Wolfgang explained. “But the IFRS training group, and what they are looking at right now, is about having a pure curriculum of more technical training that we can carry forward.”

UHY efforts to provide IFRS training come at a time when US regulators toy with the idea of allowing US companies to use the global standards without the expensive requirement to restate financial reports in US GAAP. Wolfgang, who is the managing director of UHY Advisors NY, believes it is likely that the standards could become a part of the professional landscape in a couple of years, which raises other important questions in his mind.

“The concern I have is are we ready for it yet, and that will be the key question and focus,” he said. “What have we done at the universities, what have we done in the profession and how are we dealing with it? Are we going to have international convergence so that everything is the same or will we have convergence with exceptions that say country A is going to this way and B is doing it this way?

“I don’t think we are ready for it at all and we need three or fours years to get ready from a training perspective and client perspective. One of the things we have talked about is not just from training our own people but clients and how are we going to immerse the clients in this process? We have struggled a little bit with how we get that information to the clients and how we get them ready, and I think that will take some time.”

Wolfgang said network-wide training programmes could eventually incorporate other technical areas as the need arises.

Top Content

    Brazil: regulation and technology form basis for recovery

    Opportunities in the capital markets and the ever-growing influence of technology are expected to have a significant impact on the Brazilian accounting profession over the next 12 months, writes Paul Golden.

    read more

    Mentoring support and the opportunity to delegate

    Jon Lisby will be known to many from his former role as CEO of Kreston International. Here, he explains the background to his new venture, Global Alliance Advisory Services (GAAS), and how he aims to offer support to alliance CEOs.

    read more

    Global by name, global by nature

    Stephen Heathcote became chief executive officer of PrimeGlobal on 1 June 2019. Robin Amlôt met him to discuss the various new challenges that he has taken on, and his ambitions for the association.

    read more

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.