Additionally, the financial markets turmoil of the last few months has created significant uncertainty about the future. For many entities, the 2008 reporting season is approaching, and this uncertainty is creating a number of challenges. As one of the world’s leading accounting firms and author of the comprehensive text, International GAAP, Ernst & Young is well placed to help you address the major implications of applying reporting under IFRS during this difficult time.

Ernst & Young's Global IFRS Services is launching a new series of Thought Center Webcasts focusing on IFRS topics for businesses around the world currently using IFRS. During this first webcast in the series, we take a look at some of the areas in financial reporting where challenges will arise due to actions businesses have had to take, or may need to take, such as revisions to share-based payment arrangements.

Join Lynda Tomkins from Ernst & Young's Global IFRS Services, as she leads a discussion to explore the impact of market developments on:

• Assessing whether there is an impairment charge to be booked
• Approaching the fair value of financial instruments
• Examining compensation arrangements and the effect of any modifications
• Exploring financing arrangements

Forthcoming webcasts in this global IFRS series include:

• 15 December 2008 - Fair values and financial instruments
• January 2009 - Proposed changes to revenue recognition requirements
• February 2009 - Mergers and acquisitions and the effect of the new business combinations standard
• March 2009 - Consolidations and the effect of the new business combinations standard