A new opportunity is knocking at the door of Indian outsourcing industry. Some feel this KPO (Knowledge Process Outsourcing) scope will be huge and will create opportunities for newer players in the market.
But where it is coming from? The story goes like this. International Accounting Standards Committee (IASC) has given a mandate to organizations across the world to migrate to a common accounting platform the International Financial Reporting Standards (IFRS) - by April 2011.
TOI writes IFRS are standards and asset/liability interpretations adopted by the International Accounting Standards Board (IASB). This crossing over exercise - from local, multiple accounting practices to a single, globally accepted mode - calls for a lot of preparedness for corporates, their partners and clients. A range of factors like
how to migrate, how to value an asset/liability, how to interpret economic data and performance and finally how to implement the standard have to be explained and taught to corporates.
Sounds like new Y2K boom.
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Posted by: Michael Carter | October 16, 2008 11:48 AM | Permalink to Comment