RAFA Solutions participated at the 15th Workshop on European Financial Reporting

RAFA Solutions’ financial manager Zhizel Dermenjyan participated in 15th Workshop on European Financial Reporting (EUFIN) taking place at the Vienna University of Economics and Business, Austria, on 29-30 August 2019.

EUFIN workshop gives an opportunity for academics and practitioners interested in recent developments and research projects regarding financial reporting in Europe to meet and deep dive into the subject, its regulations, and harmonization, the process of change due to international developments.

The workshop featured parallel and plenary type of sessions. The plenary sessions were focused on the practical implications of current developments in the accounting and financial reporting aspects in Europe. The first plenary session attended by Zhizel - “Who can afford IFRS reporting?” was presented by IASB member Ann Tarca, European Financial Reporting Advisory Group Chairwoman Chiara Del Prete and Professor of Accounting at the University of Antwerp Ann Jorissen.

During the session, standards like IFRS 9 (financial instruments, impairments) and IFRS 15 (revenue from contracts with customers) were discussed as well as the importance of IFRS SME adoption. The auditorium was quite active, asking questions about the IFRS implementation cost estimation and IFRS benefits.

The parallel session on the first day had interesting topics like “The IASB and comparability of international financial reporting” by Ann Tarca and “Global standards without the United States? Institutional Work and the U.S. Non-Adoption of IFRS” by Christoph Pelger.

The first day of the conference was finalized with wine tasting and typical Viennese dinner, during which the participants had a great time communicating with each other.

One of the most remarkable plenary sessions of the second day was Peters-Olbrich’s “The effect of enforcement on Auditor Conservatism” topic, focusing on the overall financial reporting quality.

Zhizel found the participation at the EUFIN2019 useful and interesting for the opportunity of communicating with IASB members and experts of this field. The conference was also a platform of networking with representatives from all over Europe specialized in accounting and financial reporting.


About RAFA Solutions

RAFA Solutions provides Robust and Flexible Advanced Solutions for Industrial Automation.
We are a system integrator company with extensive software as well as hardware development expertise leveraging advanced technologies. Our high quality automation systems are a result of engineering excellence.
Our engineers have the expertise to build high quality, reliable and cost-effective products and solutions that can take industrial or manufacturing operations to a whole new level of productivity.
RAFA Solutions team can develop detailed system requirements and designs to solve your automation problems starting from a sketch on a piece of paper or your well thought out concept. For more information, visit here.


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