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Program Agenda: Conference Day Two
Thursday, September 25, 2008
| 8:00 - 9:00 |
Continental Breakfast |
8:00 - 9:00 |
9:00 - 9:10
Opening Remarks from the Chair
Sean Morrison, Partner, Complex Accounting and Transaction Expertise Group, Deloitte
9:10 - 10:10
AcSb Update
Canadian Accounting Standards: What's Happening?
Ian Hague, Principal, Accounting Standards Board of Canada
Karen Jones, Principal, Accounting Standards Board of Canada
- AcSB's plans between now and the conversion to IFRS in 2011
- New accounting standards for 2008
- Other AcSB projects to look forward to in 2009 and the near future
- Implications for U.S. filers
10:10 - 11:10
IASB Update
Current IASB Projects and How They Will Affect Canadian Companies
Ian Hague, Principal, Accounting Standards Board of Canada
Karen McCardle, Principal, Accounting Standards Board of Canada
- Update of IASB work program
- Current status of IASB projects that will change IFRS before 2011
- business combinations
- earnings per share
- income taxes
- consolidations
- joint arrangements
- Recent IASB proposals for beyond 2011
- financial statement presentation
- fair values
- financial instruments
- insurance contracts
- revenue recognition
- employee benefits
- conceptual framework
- extractive activities
| 11:10 - 11:20 |
Networking Break |
11:10 - 11:20 |
11:20 - 12:20
News and Developments at the Public Company Accounting Oversight Board
(PCAOB) and Canadian Public Accountability Board (CPAB)
Mary Sjoquist, Special Counsel, Public Company Accounting Oversight Board
Donald J. Cockburn, FCA, Vice-President, Canadian Public Accountability Board
- What are the most common things the CPAB and PCAOB require auditors to correct?
- What companies need their auditors to watch out for the most
- Recent trends and developments at the Canadian Public Accountability Board
- News from the Public Company Accounting Oversight Board
- What are they on the lookout for the most?
- New developments in internal controls
- New standards and others under consideration
- Developments in the supervisory model and recent enforcement activity
| 12:20 - 1:30 |
Luncheon Break |
12:20 - 1:30 |
1:30 - 2:30
New U.S. Standards: Financial Instrument Implementation
Sylvie Monette-Houle, Senior Manager, KPMG
- Understanding the differences between Canadian GAAP and U.S. GAAP
- Differences from IFRS
- Common issues in implementation
2:30 - 3:30
Road to Transition: IFRS 1--The First-Time Adoption of IFRS
Geoff Leverton, Partner, PricewaterhouseCoopers
- Overview of IFRS 1 for first-time adoption
- Impact on the opening balance sheet and comparative periods presented
- Clarifying limited exceptions available on initial adoption
- Disclosures to explain the transition from previous GAAP to IFRS
- Key areas that may be impacted by initial adoption
| 3:30 - 3:45 |
Networking Break |
3:30 - 3:45 |
3:45 - 4:45
MD&A: Best Practices Today; Making the Change to IFRS
Brian Ludmer, Barrister & Solicitor
- Essential elements of the MD&A as a key disclosure document
- Key tips for an effective MD&A under current GAAP and IFRS
- How IFRS will affect the content and construction of the MD&A: changes in the MD&A rules under IFRS
- Off–balance sheet reporting, internal control regulations, and due diligence
- Examples of dynamic and effective MD&As
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