IFRS and GAAP Accounting Publications
Author, Expert, Educator, Practicing Accountant
International accountant Dr. Barry Jay Epstein, Ph.D., CPA, is a prolific author on matters relating to International Financial Reporting Standards (IFRS), Generally Accepted Accounting Principles (GAAP), accountants liability, auditor liability, securities litigation, financial reporting, fraud, and related topics.
Media requests for comment and invitations to write for future publication are welcomed. You can email Dr. Epstein or reach him by phone at 312-464-3520.
Handbook of Accounting and Auditing. New York: Thomson Tax & Accounting, 2011, with updates since 1998. This widely used reference provides encyclopedic guidance on accounting and auditing issues, with references to additional information in the professional literature produced by FASB, EITF, AICPA, SEC, and other related organizations. In addition, there is accounting and auditing coverage for key industries, including financial services, construction, healthcare, not-for-profit, and media/entertainment.
Wiley IFRS Policies and Procedures, Barry J. Epstein and Eva K. Jermakowicz, New York: John Wiley & Sons, Inc., 2008. IFRS implementation guide provides all of the International Accounting Standards detail that a reader needs to select the right IFRS rules and how to implement them. ISBN 978-0-471-69958-3, paperback, 456 pages.
Wiley GAAP: Practical Implementation Guide and Workbook, Barry J. Epstein, Ph.D., CPA and Nadira M. Saafir, CPA,New York: John Wiley & Sons, 2010. ISBN: 978-0-470-59906-8, Paperback,496 pages, U.S. $95.00.
Wiley GAAP: Interpretation & Application of Generally Accepted Accounting Principles, New York: John Wiley & Sons, Inc. Dr. Epstein served as the lead author of 26 annual editions of Wiley GAAP (1985 through 2010). Paperback, 1376 pages.
Wiley IFRS: Interpretation and Application of International Financial Reporting Standards, Barry J. Epstein and Eva K. Jermakowicz. New York: John Wiley & Sons, Inc. Dr. Epstein served as the lead author of 14 annual editions of Wiley IFRS from 1997 to 2010. Paperback, 1,344 pages.
2012 Press Coverage
"With SEC report looming, uncertainty over IFRS expected to linger," by Ken Tysiac, Journal of Accountancy, July 12, 2012.
"Epstein Gift to Helene Ramanauskas-Marconi Endowed Scholarship Fund," DePaul University, Driehaus College of Business, June, 2012.
2012 Published Articles
"Auditor Liability Litigation: 5 Planning Deficiencies that Lead to Audit Failures," by Susan Cheng and Barry J. Epstein, Westlaw Journal Professional Liability, Volume 22, Issue 5 / October 2012.
"There's No Accounting for MF Global," by Barry J. Epstein, Law360, August 17, 2012.
"Fair Value Accounting: Finding the Middle Ground in the Mark-to-Market Dispute," by Natasha Perssico and Barry Jay Epstein, Accounting Today, July 31, 2012.
"Whistle-Blower Assertions of Financial Reporting Fraud: How Counsel Can Protect Corporate Clients," by Barry Jay Epstein, Ph.D., CPA, CFF, supplement to Chicago Lawyer, July, 2012.
"Foreign Earnings Repatriation Study Underscores Need for Improved Investment Climate, Not Tax Gimmicks," by Barry Jay Epstein, Accounting Today, January 26, 2012.
2011 Published Articles
"Financial Reporting Year in Review: Recent and Upcoming Changes that Will Impact Corporate Counsel and other Attorneys," by Barry Jay Epstein, Chicago Lawyer, Law Bulletin Publishing Company, December, 2011.
"Before You Sue:
Understanding Auditors' Defenses for Failures to Detect Erroneous or Fraudulent Financial Statements, Elizabeth Kowalski and Barry Jay Epstein, Chicago Lawyer, Law Bulletin Publishing Company, October, 2011, Volume 34, No. 10.
"Accounting Policy Options in IFRS: Weighing the Choices Upon First Time
Adoption," Eva K. Jermakowicz and Barry Jay Epstein, The CPA Journal, August, 2011.
"Three Ways for Counsel to Mitigate Litigation Risk: An Accounting
Expert's Perspective," Elizabeth Kowalski and Barry Jay Epstein, Chicago Lawyer, Law Bulletin Publishing Company, August 2011, Volume 34, No. 8.
"The Repatriate Act: GAAP vs. IFRS and the Treatment of Foreign Earnings," Barry Jay Epstein, Accounting Today, May 2011.
"SEC, Fannie and Freddie: MD&A Overload?" Barry Jay Epstein and Ralph Nach, Law360.com, April 15, 2011.
"Considering Another Tax Holiday for Foreign Earnings," Barry Jay Epstein, Law360.com, March 31, 2011.
"The Differential Influence of U.S. GAAP and IFRS on Corporations Decisions to Repatriate Earnings of Foreign Subsidiaries," Barry Jay Epstein and Lawrence G. Macy, March-April 2011. This article is reprinted with the publisher's permission from the International Tax Journal, a bi-monthly journal published by CCH, a Wolters Kluwer business. Copying or distribution without the publisher's permission is prohibited. To subscribe to the International Tax Journal or other CCH Journals please call 800-449-8114 or visit www.tax.cchgroup.com.
"Roundtable: International Financial Reporting Standards," Financier Worldwide Magazine, February 2011. Dr. Epstein was one of several panelists interviewed for this article.
2011 Press Coverage
What a Switch from GAAP to IFRS May Mean for Investors
by Ann Hynek - November 28, 2011
TalkingPoint: Accounting Standards In The US Convergence With IFRS
2010 Published Articles
"Who's At Fault? NY Court Ruling Shelters Auditors," Barry Jay Epstein, Ph.D., CPA, CFF, Chicago Lawer Year in Review 2010, Law Bulletin Publishing Company, December, 2010.
"Auditor Malpractice: Five Things Litigators Should Know About Generally Accepted Auditing Standards," Barry Jay Epstein, Ph.D., CPA, and Elizabeth A. Kowalski, CPA, CFE, Chicago Lawyer Magazine, Litigation Support Special Section, Law Bulletin Publishing Company, October, 2010.
"Nine steps to optimization of the audit committee," Barry Jay Epstein, Ph.D., CPA, and Elaine Vullmahn, MBA, CPA, CIA, Westlaw Journal Corporate Officers & Directors Liability, Volume 26, Issue 5 / August 30, 2010.
Occupational Fraud: A Productive Area for Counsel's Attention. By Susan Cheng, CPA, CFE, CA, and Barry Jay Epstein, Ph.D., CPA, Chicago Lawyer Magazine, Corporate Counsel Special Section, Law Bulletin Publishing Company, August, 2010.
"IFRS for SMEs - An Option for U.S. Private Entities?" Eva K. Jermakowicz and Barry Jay Epstein, The Review of Business Journal, St. John's University, Spring 2010, Volume 30, Number 2.
"GAAP to IFRS," Elaine Vullmahn, CPA, CIA and Barry Jay Epstein, Ph.D., CPA, Inside GRC, Spring 2010, Issue 2, Volume 2.
"5 Ways Audit Committees Can Rebuild Public Trust," Barry Jay Epstein, Ph.D., CPA and Elaine Vullmahn, MBA, CPA, CIA, Law360.com, June 30, 2010.
Litigation Risks in the SEC's IFRS Plan: What Attorneys Need to Know, by Barry Jay Epstein, Ph.D., CPA, The International Law Quarterly, published by the International Law Section of The Florida Bar, Spring/Summer 2010, Vol. XXV, No. 1.
"Buyers Beware: Relaxing Due Diligence Could be Fatal," Elaine Vullmahn, CPA, CIA and Barry Jay Epstein, Ph.D., CPA, Law360.com, April 23, 2010.
"Avoiding Litigation as Businesses Transition from GAAP to IFRS," Barry Jay Epstein, Ph.D., CPA and Elizabeth A. Kowalski, CPA, CFE. Published in the newsletter of the ABA International Litigation Committee, ABA Section on Litigation, April, 2010.
"This Way Please," Nadira M. Saafir, CPA and Barry Jay Epstein, Ph.D./CPA, Insight, the magazine of the Illinois CPA Society, February/March 2010.
"Four Key Provisions for every Earn-Out Agreement," by Elaine Vullmahn, CPA, CIA and Barry Jay Epstein, Ph.D., CPA, Law360.com, March 23, 2010.
"A Guide for Directors: Four Considerations in Assessing Management's Responses to New Accounting Standards," Barry Jay Epstein, Ph.D., CPA, and Elaine Vullmahn, CPA, CIA. Westlaw Corporate Officers & Directors Liability Journal, Volume 25, Issue 16, February 1, 2010.
Dr. Epstein frequently publishes articles on the legal information site JD Supra. Read his latest articles here.
2010 Press Coverage
"Ernst & Young Said to Face Fraud Lawsuit From Cuomo Over Lehman Audits," Bloomberg, December 20, 2010.
Opulent Loss, Little India, August 2010.
New GAAP Accounting Workbook Offers Guidance on Complex Real World Transactions. Press release, April 14, 2010.
2009 Published Articles
"2009 Financial Reporting Year in Review: Changes in Practices and Rules, and More on the Way," Barry Jay Epstein and Elizabeth A. Kowalski. Chicago Lawyer 2009 Year in Review Supplement, December 2009.
"Two Threats to Sound Accounting by Banks and Thrifts," Barry Jay Epstein, The CPA Journal, published by the New York State Society of CPAs, September, 2009.
"Federal Takeover of Financial Reporting Standards," Barry Jay Epstein and Elaine Vullmahn, Law360, July 9, 2009.
Dr. Epstein served as an advisor to author Samuel Francis on the article titled "Meet Two-Face: The Dualistic Rule 10b-5 and the Quandary of Offsetting Losses by Gains," Fordham Law Review, Vol. 77, No. 6, pp. 3045-3094, May 2009.
"The Problems with the Mortgage Bailout Plan," Barry Jay Epstein and Todd J. Ohlms, Law360, April 17, 2009.
"IFRS Converges to U.S. GAAP on Segment Reporting," Barry Jay Epstein and Eva Jermakowitz, Journal of Accountancy, April. 2009.
"The Coming Transition from U.S. GAAP to IFRS: Implications for Attorneys," by Barry Jay Epstein and Susan Cheng, NY BusinessLaw Journal, published by the New York State Bar Association, Spring, 2009.
"Debt is in the Details What CFOs and Attorneys Need to Know about Securitization Accounting and Recent Amendments to FAS 140 Disclosure Requirements," Barry Jay Epstein & Elaine Vullmahn. Securities Litigation Report, Thomson Reuters, March 2009.
"The Economic Effects of IFRS Adoption," Barry Jay Epstein. The CPA Journal, published by The New York State Society of Certified Public Accountants, March, 2009.
"Efforts to Bail Out the U.S. Economy Could Impede Legitimate Uses of Securitization," Barry Jay Epstein and Elaine Vullmahn, MEALEY's Emerging Securities Litigation, Vol 7, #8, February 2009. When properly employed, securitization is a financial strategy that is well grounded in both property and contract principles. Political over-reactions may exacerbate recent economic turmoil by raising the spectre of abrogation of the rights of securitized asset investors.
"The Madoff Matter," Barry Jay Epstein and Todd J. Ohlms. National Law Journal, January 26, 2009. The recent, shocking news about the $50 billion Ponzi-scheme fraud allegedly perpetrated by investment adviser Bernard Madoff has been one of the most headline-grabbing events of the past month. If true even remotely as reported, the Madoff affair is bound to raise fundamental questions about auditor liability, going far beyond the apparent issue of regulatory failure. Many of these concerns will quite possibly culminate in litigation targeting accounting firms. Read the full article.
2009 Press Coverage
Accounting Expert Barry Jay Epstein Offers Litigation Avoidance Techniques in GAAP to IFRS Conversion. Press release, December 7, 2009.
"Over the Counter, Out of Sight," The Economist Magazine, November 12, 2009. Dr. Epstein is quoted in an article on derivatives securities.
"Why do Execs Share Privileged Information?" Kirk Ladendorf and Tim Eaton, The Austin-American Statesman, Thursday, October 29, 2009. Dr. Epstein is quoted in regard to SEC civil penalties for selective disclosure of insider information.<
"SEC Takes Washington Post Co. to Task Over Bonus Disclosure," Katie Wagner, Agenda Week, October 26, 2009. Dr. Epstein is quoted on how a non-GAAP value cited by management in the Compensation Discussion & Analysis section of a proxy statement relates to a basic GAAP financial statement measure, such as net income.
"IFRS Returns to the Front Burner," by Marie Leone, CFO.com, October 8, 2009.
"Firms Warned to Deploy GAAP Codification Soon," WebCPA.com, September 29, 2009.
"FASB Rule Aids MBS," Brian Collins, National Mortgage News, April 6, 2009.
2008 Published Articles
"Joining the world: US companies adopting IFRS," Eva K. Jermakowicz and Barry Jay Epstein, Butterworths Journal of International Banking and Financial Law, December 2008.
"O Canada! Changing accounting standards to impact Ohio businesses," Barry Jay Epstein, Business First of Columbus, June 6, 2008.
"Interest Capitalization: One Small Step Toward Convergence," Barry Jay Epstein, CPA, Ph.D., and Eva Jermakowicz, CPA, Ph.D. Journal of Accountancy, May 2008, International Issue.
"Broader acceptance of IFRS in US capital markets: implications for attorneys," Barry J. Epstein and Susan Cheng, Securities Law Newsletter, a publication of the International Bar Association, April 2008, pp 21-23, Vol. 14, No. 1.
"Global Financial Reporting - The Growing Prominence of IFRS: Implications for Transactional Attorneys," [PDF] Barry Jay Epstein and Eva K. Jermakowicz. Published in the International Bar Association Business Law International, Vol. 9, No. 1, January 2008.
2008 Press Coverage
"IFRS Adoption: Changes Coming to Executive Comp Plans," Agenda Week, Josh Martin, November 17, 2008.
"Big changes in reporting standards coming to the accounting world," Ed Duggan, South Florida Business Journal, June 13, 2008.
"Canada's accounting switch challenges U.S. companies," Tamarind Phinisee, Portland Business Journal, June 13, 2008.
"Fallen AIAPharma exec to pay $50,000 fine," Lee Weisbecker, Triangle Business Journal, May 23, 2008.
"Businesses that play by the rules keep up with changing scene," Houston Business Journal, May 9, 2008.
"Canadian accounting-standards changes are sign of the times," San Antonio Business Journal, May 5, 2008.
2007 Published Articles
Accounting Pitfalls for Buyers and Sellers, [PDF] published in the CBA Record by the Chicago Bar Association, November 2007.
"International Standards for Small and Medium-Sized Entities: Analyzing the IASB Exposure Draft," Barry Jay Epstein and Eva K. Jermakowicz. The CPA Journal, a publication of the New York State Society of CPAs, October 2007.
The IFRS are Coming! International Accounting Convergence: Implications for Securities Lawyers and Other Professionals, [PDF] published in Bloomberg Securities Law Reports, July 23, 2007.
Minimizing Information Asymmetry Risk in Acquisitions with Contingent Pay-Outs: An Accountant's Perspective, [PDF] published in the Illinois State Bar Association's Corporation, Securities & Business Law Forum newsletter, April 2007.
"Wrong-Headed Reactions to Information Overload Threaten Sound Decision-Making," by Barry Jay Epstein. The CPA Journal, a publication of the New York State Society of CPAs, March 2007.
2006 Published Articles
Early Warning: Recent and Forthcoming Financial Reporting Developments That May Spur Business Litigation, [PDF] published by Thomson/West in the October 2006 issue of Securities Litigation Report.
More IFRS Resources
See IFRS and GAAP comparisons and differences at our IFRS versus GAAPResource Center.