DePaul University’s School of Accountancy will co-sponsor "Global Advances in International Accounting Research," a gathering of 150 accounting scholars from 25 countries, Oct. 2 and 3 at the DePaul Center, 1 E. Jackson Blvd. The conference is the combined meeting of the International Association for Accounting Education and Research (IAAER), which convenes biennially and every six years in the United States, and the 33^rd annual meeting of the University of Illinois Center for International Education and Research in Accounting.

The hot topic of the conference will be the proposed adoption of international accounting standards, an issue with wide ranging implications for the accounting and securities industries, said Belverd E. Needles, Arthur Andersen Alumni Professor of Accountancy at DePaul and president of the IAAER.

"The International Accounting Standards Commission (IASC) has agreed with the worldwide organization of the securities industry that if the IASC can put together a body of acceptable international accounting standards, the security regulators will recognize those standards," Needles explained. "The outcome of this issue will have significant impact on the cross border listing of stocks on stock exchanges." Needles said a decision on the standards is expected this year.

"If a foreign company wants to be listed in the United States, it is currently required to follow U.S. accounting standards, which can be onerous," he said. "If the international standards are accepted, foreign companies may use international accounting standards, which are broader and less detailed." (over)

If the international standards are accepted, "Some foreign companies will begin following the international standards in the United States," Needles said. "Financial statements will be prepared in two ways, significantly affecting the accounting and securities industry in the United States. Worldwide, it will facilitate the international transfer of company funds and it will be easier to compare the financial statements of companies from different countries."

The status of the issue will be discussed at a plenary session, "International Accounting Standards: Recent Developments and Research," on Oct. 2 at 2 p.m. The main speakers will be Katherine Schipper, past president of the American Accounting Association, and Patricia McConnell, vice chair of the International Accounting Standards Committee. A panel discussion will follow, featuring Mary Tokar, Commissioner of the U.S. Securities and Exchange Commission; Karel Van Hulle, head of unit, European Commission; and James Leisenring, vice chair, Financial Accounting Standards Board. Needles will moderate the session.

Other highlights of the conference include a plenary session on "Financial Instruments, Derivatives and Financial Reporting" and a tour of the Eurodollar Trading Floor of the Chicago Mercantile Exchange.

Overall, the conference will serve as a forum for the presentation, discussion and dissemination of current international accounting research by the scholars from around the globe. The conference is one of a yearlong series of events during the 1998-99 academic year that DePaul is hosting to commemorate the university’s centennial.

Part of the Kellstadt Graduate School of Business, the School of Accountancy is one of the largest and most respected schools of professional accounting in the country. Bowman's Accounting Report 1998 ranks DePaul as the ninth major source of partners in Big Six accounting firms.