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Early in 2011, Brazilian listed companies began the first wave of reporting using newly converged IFRS and, not long after, the rest of the industry followed. Sheena Rossiter looks at the impact of IFRS six months on since full-convergence. On a cold winter’s day in late August 2011, accountancy professionals gathered at the Caeser Business Paulista hotel in the centre of Latin America’s largest city, Sao Paulo. They were there to discuss what life is like in the profession after Brazil made the full adoption of IFRS back in April. At software company, Systema Consultores Associados annual meeting - Building a New Financial Management and IFRS - it was clear that interest in Brazil hasn’t slowed down with the rest of the global economy, even with the slow pace and high cost of doing business here. It has been more than half a year since South America’s largest economy joined 120 countries in making the full-adoption to IFRS. Brazil was the first Latin American country to do so and is

Africa’s many countries have finally banded together forming the continent’s first Pan-African accounting federation in order to promote the development of the accounting profession in the region. David Hayes reports on the federation’s first few months in existence and its future plans. Efforts to raise the status of the accounting profession in Africa and to promote development of professional accountancy organisations across the continent have recently taken an important step forward with the formation of the Pan-African Federation of Accountants (PAFA). PAFA is composed of 37 professional accountancy bodies from 35 countries in the Africa continent and is the first organisation set up to represent and promote Africa’s growing accounting profession. "PAFA will accelerate the development of the profession and strengthen the voice of the accountancy profession within Africa and worldwide," PAFA president Sebastian Owuama said at the first general meeting. "As the econo