According to an ISCA report, the Conference on “International Financial Reporting Standards(IFRS) and its Role in Increasing Transparency in the Financial Market” began with a message from Islamic Azad University president, Dr. Hamid Mirzadeh.
Dr. Mirzadeh stated that the world is moving toward IFRS standards, and naturally, companies’ financial reporting system needs special educational system, curricula, and training courses.
Owing to the number of experienced faculty members and graduate students, Islamic Azad University has favorable conditions and potential to hold IFRS-based accounting education, and “indeed, this conference represents the rapid response of IAU for raising awareness and preparing a successful transition to IFRS.”
Dr. Mirzadeh noted that IAU is determined to join the accounting profession and users of financial reports and will also be proactive in providing IFRS education.
IFRS provides investors and other users of financial statements with the ability to compare the financial performance of publicly listed companies on a like-for-like basis with their international peers. The IFRS-based balance sheet templates were first released by CBI in February to improve financial transparency and the international operations of Iranian banks. Lenders are now required to report their statements as per IFRS guidelines.