PricewaterhouseCoopers Announces Effort to Prepare Future Accounting Professionals for IFRS Adoption

PricewaterhouseCoopers Announces Effort to Prepare Future Accounting
Professionals for IFRS Adoption
$1 Million IFRS Ready Grant Program Helps Universities Educate Students Before
Convergence

NEW YORK, Nov. 5 /PRNewswire/ -- PricewaterhouseCoopers LLP (PwC) today
announced its second round of IFRS Ready grants to contribute to the
preparedness of colleges and universities for the likely eventual adoption of
IFRS in the United States as well as the growing influence of IFRS in global
capital markets. This announcement comes shortly after SEC officials
indicated that the SEC would begin to re-focus on matters relevant to
considering the use of IFRS for U.S. public companies. Earlier this year, PwC
awarded grants to 26 universities and colleges through the program.

The IFRS Ready grant program, totaling $1 million over two years, is designed
to help professors develop curriculum and transform course syllabi and
assignments to include IFRS. PwC believes that preparing students for new
global accounting standards can be an important factor in their long term
professional success, regardless of whether or when the U.S. actually adopts.

IFRS has increasingly become the accounting framework of choice around the
world. IFRS is impacting U.S. companies today as their non-U.S. subsidiaries
are increasingly beginning to report under IFRS and their foreign customers
and suppliers are increasingly considering IFRS implications as they enter
into transactions with U.S. companies. IFRS is also relevant to international
merger and acquisition transactions as often one or more of the companies
entering into such transactions report under IFRS. IFRS is currently used
by upwards of 12,000 companies in more than 100 countries.

"In an increasingly global economy where adoption of IFRS continues it is
important that the newest generations of accounting professionals understand
IFRS and its business implications," says Jean Wyer, partner and leader of
college and university relations for PricewaterhouseCoopers. "Our
collaboration with colleges and universities across the country will not only
help to develop new curriculum, but position future accountants to be ready to
meet the IFRS challenge head-on."

In addition to the grants, PwC is also providing educational material directly
to students and faculty through a suite of Web-based videos and tools
available at www.pwc.tv. The firm's IFRS Ready "learning annex" enables
students to watch videos explaining IFRS, why it matters and its effects on
accounting today. They can also explore interactive IFRS financial statements
that enable them to see and understand the differences between IFRS and U.S.
GAAP treatments.

As one of the nation's largest employers of college graduates, PwC
collaborates with schools across the country to provide meaningful, relevant
learning programs and opportunities to ensure that students are well prepared
to enter the profession. In addition to supporting IFRS education on campus,
PwC also provides students with opportunities to experience and solve
real-world business challenges through programs such as the xTREME Games
competition.

PwC has a history of investing in education and talent development. For the
past two years, PwC has been ranked #1 in Training magazine's "Training Top
125" annual ranking of organizations that excel at employee training and
development (the firm also ranked #2 in 2007). PwC has also consistently been
named to FORTUNE magazine's "100 Best Companies to Work For" list, and has
been highly ranked on BusinessWeek's lists of "Best Internships" and "Best
Places to Launch a Career."

About PricewaterhouseCoopers
PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax
and advisory services to build public trust and enhance value for its clients
and their stakeholders. More than 163,000 people in 151 countries across our
network share their thinking, experience and solutions to develop fresh
perspectives and practical advice.

"PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP or, as the
context requires, the PricewaterhouseCoopers global network or other member
firms of the network, each of which is a separate and independent legal
entity.

© 2009 PricewaterhouseCoopers LLP. All rights reserved.

SOURCE PricewaterhouseCoopers LLP

Kelly Howard, +1-646-471-2111, or Elliott Frieder, +1-646-471-3108, both of
PricewaterhouseCoopers LLP