Yerevan /Mediamax/. “IAB Center” announced he launch of training courses on International Financial Reporting Standards (IFRS).

Mediamax reports that “IAB Center” won the tender of the Financial Sector Development Program of U.S. Agency for International Development (USAID) for teaching IFRS in Armenia.

Board Member of the Central Bank of Armenia (CB) Vakhtang Abramyan noted that the training program is composed competently and secures quality coverage of all issues in making a transition to IFRS. He noted that transition to IFRS is one of the key steps in formation of corporate management in the Armenian economy, which is especially important in conditions of the financial-economic crisis.

Vakhtang Abramyan reminded that the translation of IFRS to Armenian language, initiated by the Ministry of Finance of Armenia, will be concluded in September, 2009, and the participants of the training upon its conclusion will be also to get acquainted also with the Armenian edition of the standards.

The courses are meant for three target groups: banking accountants, accountants in other financial organizations and management representatives of financial organizations.

The courses for accountants will last 30 hours, and managers - 24 hours.

Director of “IAB Center” Araksya Melkonyan noted that the leadership of the training center is proud of the victory in the tender and of the opportunity to teach IFRS in Armenia.

Chairman of the Union of Armenian Banks Emil Soghomonyan described implementation of IFRS in Armenia as “inevitable and necessary”.--0--