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2008 Optional Pre-Conference Workshops
Tuesday, September 23, 2008
9:00 - 12:00
Workshop A
Differences between U.S. and Canada GAAP and Future Changes with IFRS
Kiran Khun-Khun, Senior Manager, Complex Accounting and Transaction Expertise Group, Deloitte
Joyce Lam, Senior Manager, Complex Accounting and Transaction Expertise Group, Deloitte
Differences between Canadian GAAP, U.S. GAAP, and IFRS will be discussed in depth, with case studies providing participants with an opportunity to determine practical considerations in bridging these GAAP differences. Key issues to be covered include
- Extensiveness of IFRS-prepared financial statements
- Differences between IFRS and Canadian GAAP financial statements
- Overall approach for obtaining supporting information
- Guidance and examples to be used in the preparation of IFRS financial statements
1:00 - 4:00
Workshop B
Disclosure Considerations during the Transition to IFRS
Chris Thatcher, Audit Partner, Financial Services Group, Deloitte
This workshop will provide an opportunity to practise the measurement requirement under IFRS for certain standards. During this afternoon session, participants will gain an understanding of and plan for the disclosure requirements during the transition to IFRS and subsequent disclosure considerations.
- 2008/2009 financial statement disclosures of convergence plans
- How to prepare for the key milestones
- Impact on systems and resource considerations
Then the workshop will illustrate the extensiveness of IFRS-prepared financial statements, allowing participants to determine the differences from Canadian GAAP financial statements and grasp the overall approach for obtaining supporting information.
2008 Optional Post-Conference Workshops
Friday, September 26, 2008
9:00 - 12:00
Workshop C
Internal Control Certification: Understanding the Revised Rules and the Impact They Will Have
Stuart Hartley, President, FocusROI Inc.
- What are the revised rules, what impact will they have, and how do you deal with them?
- Implementing an effective top-down risk-based approach to control assessment
- Using a control framework effectively
- Maintaining the balance between effective controls and operational efficiency
- Maintaining and redesigning internal controls over financial reporting: a new key responsibility for CFOs?
- Identifying, testing, and monitoring entity-level controls
- MD&A disclosures
1:00 - 4:00
Workshop D
Meeting the Challenges of Fair Value Measures
Chris Thatcher, Audit Partner, Financial Services Group, Deloitte
Financial reporting and fair value are increasingly becoming important partners in the reporting and accounting process. New and more complex accounting standards require the use of fair value. FASB has issued a standard on fair value (FAS 157), and IASB and AcSB have issued a converged standard. This workshop addresses the most relevant and timely issues you and you financial institution will face in the measurement of fair value.
- Review of FAS 157 and its implications
- Addressing new accounting challenges through fair value
- Fair value and the introduction of new opportunities
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