Shân Kennedy is an independent consultant who advises on IFRS and valuation matters. Her background includes more than 20 years with the Big 4 accounting practices, Ernst & Young and Deloitte.
During her time with Ernst & Young, Shân was seconded for 4 years to the UK Accounting Standards Board as the Project Director responsible for Goodwill and Intangible Assets accounting. In this rôle, she researched and, working with Sir David Tweedie, put together the proposals underlying UK GAAP’s FRS 10 “Goodwill and Intangible Assets” and FRS 11 “Impairment of Fixed Assets and Goodwill”. This included developing and field-testing the initial version of the impairment review with some of the companies most affected including GSK, Cadbury Schweppes, Guinness and Grand Metropolitan (now Diageo), Reed Elsevier and Unilever.
Shân was part of the team which advised ABN Amro on its transition from Dutch GAAP to IFRS. She also worked alongside PricewaterhouseCoopers to develop and deliver a training programme to both front and back office staff at Lloyds TSB for their IFRS transition.
Shân has presented at many IFRS conferences in London and Europe. She was a member of the ICAEW team in 2007 that performed a review for The European Commission on “EU Implementation of IFRS and the Fair Value Directive”.
Shân’s valuation experience stems from more than 7 years working as a valuation specialist within the Big 4, including holding the position of Director responsible for the valuation specialism at one practice. She is a Council Member of the Society of Share & Business Valuers, ‘SSBV’. She has presented to both the SSBV and the International Valuation Standards Committee, ‘IVSC’, on the impact of IFRS for valuation practitioners.
She recently acted as Technical Consultant to the IVSC, and wrote the IVSC’s Discussion Paper “Determination of the Fair Value of Intangible Assets for IFRS Reporting Purposes” which was issued in July 2007. Shân has undertaken numerous valuation exercises of shares and share options for IFRS 2, “Share-based Payment”, reporting purposes and of intangible assets for IFRS 3, “Business Combinations”, and IAS 38, “Intangible Assets”, reporting purposes. She has also performed a number of impairment reviews of goodwill and intangible assets in accordance with IAS 36, “Impairment of Assets”.
