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OSC/SEC 2011

The 16th Annual Financial Accounting & Reporting Course

OSC/SEC 2011


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OSC/SEC 2011
The Financial Accounting and Reporting Course
September 20 and 21, 2011
Optional Workshops: September 19 and 22, 2011
Novotel Toronto Centre · Toronto, Ontario
 
 
Preliminary Agenda: Conference Day One
Tuesday, September 20, 2011
 
 
7:30 - 8:30 Registration and Continental Breakfast 7:30 - 8:30
 
8:30 - 8:40
Welcome and Opening Remarks from the Chair
Martin Roy, Associate Partner, Deloitte
 
8:40 - 9:40
Panel Discussion
Canadian Securities Regulatory Update from OSC, ASC, and AMF
Marion Kirsh, Associate Chief Accountant, Ontario Securities Commission
Sylvie Anctil-Bavas, Chief Accountant, Autorité des Marchés Financiers du Québec
  • Recent updates from the CSA
  • Panel discussion between OSC, ASC, and AMF
  • Regulatory perspectives on financial reporting under IFRS
  • Current developments and latest financial reporting considerations
  • Tips and strategies from the regulators

Marion Kirsh is the Associate Chief Accountant of the Ontario Securities Commission. Her responsibilities include lending support internally on addressing policy and operational issues, and externally working with bodies that play an important role in promoting a high-quality framework for financial reporting in Canada. This covers accounting and auditing matters arising in the administration of the Ontario Securities Act, and involves specialized advisory services to the Commission, its senior management and staff, and market participants. She leads IFRS training for CSA staff.

Sylvie Anctil-Bavas actively participates in the initiatives related to accounting and auditing matters undertaken by the Canadian Securities Administrators. She also contributes in the development and implementation of other rules regarding the maintenance and enhancement of investor confidence, namely the rules respecting corporate governance practices, certifications and internal control. Sylvie represents the AMF at the Standing Committee 1 on accounting, auditing, and disclosure of the International Organization of Securities Commissions (IOSCO).

 
9:40 - 10:40
Keynote
U.S. Securities and Exchange Commission Update
Mark Barrysmith, Partner, KPMG LLP; former Professional Accounting Fellow, Office of the Chief Accountant, U.S. Securities and Exchange Commission
  • Recent updates and developments in U.S. accounting and reporting: how they will affect you
  • Discussion of latest IASB and FASB initiatives
  • Overview of latest SEC initiatives
  • What is their potential impact on Canadian companies
  • What's next and what you should do to prepare now
 
10:40 - 11:00 Networking Break 10:40 - 11:00
 
11:00 - 12:00
Update from the Canadian Accounting Standards Board
Rebecca Villmann, Principal, Accounting Standards Board of Canada
  • What new IFRSs will be issued in 2011? When will they be effective and what should you be doing now to prepare?
  • What will the IASB do next?
  • Living in the IFRS world
  • Resolving issues
  • How Canada can influence the International Accounting Standards Board

Rebecca Villmann has been a Principal with the Accounting Standards Board (AcSB) in Toronto for the last six and a half years. To support the adoption of International Financial Reporting Standards (IFRSs) in Canada, she is responsible for monitoring the IASB's activities for the AcSB and for the projects on consolidation, fair value measurement, liabilities and emission rights. She contributes to the development of those IFRSs by soliciting views of Canadians and developing well-reasoned comment letters and proposals. Rebecca has also assisted as staff on the International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) project to develop an improved conceptual framework. Specifically, she worked on revising the qualitative characteristics of financial information and developing improved element definitions.

 
12:00 - 1:10 Luncheon Break 12:00 - 1:10
 
1:10 - 2:00
Panel Discussion
News and Developments at the Public Company Accounting Oversight Board (PCAOB) and Canadian Public Accountability Board (CPAB)
Malcolm Gilmour, Senior Director, Inspections, Canadian Public Accountability Board
Angelo Bottoni, Director, Inspections and Accounting Standards, Canadian Public Accountability Board
Mary Sjoquist, Director, Office of Outreach and Small Business Liaison, Public Company Accounting Oversight Board
  • Latest updates and developments from CPAB
  • CPAB's inspection findings and themes
  • Most common issues that CPAB has run into in practice
  • Latest updates and developments from PCAOB

Malcolm Gilmour is a senior director with CPAB whose responsibilities include leading inspections of CPAB registered firms and monitoring developments in auditing standards. Malcolm is a former associate partner of Deloitte where he had responsibility for quality assurance and technical resources within the GTA audit practice. Malcolm also worked for The Canadian Institute of Chartered Accountants as a principal in the Assurance Standards department.

Angelo Bottoni is a director with CPAB whose responsibilities include performing inspections of CPAB registered firms and monitoring developments in accounting standards. Prior to joining CPAB, Angelo worked for World Color Press Inc., where he was Senior Director, Professional Accounting Practice and spent 14 years with Ernst & Young LLP in Montreal, most recently as a senior audit manager, serving a variety of public companies in the insurance, telecom and media industries.

Mary Sjoquist became Director of Communications in May 2009, after serving six years as Special Counsel to Board Member Bill Gradison. Prior to joining the PCAOB in May 2003, Ms. Sjoquist was a partner in the law firm of Patton Boggs LLP, where she chaired the firm's Business Practice group. Ms. Sjoquist has been a securities practitioner for more than 25 years and has focused her practice on securities offerings, mergers and acquisitions, representation of public companies reporting to the U.S. Securities and Exchange Commission, crisis management and corporate governance. In addition to her private practice experience, Ms. Sjoquist spent four years in the Division of Corporation Finance of the SEC.

 
2:00 - 2:50
Financial Analyst's Perspective on Financial Statements under IFRS: Real-Life Examples
Anthony Scilipoti, Executive Vice-President, VERITAS Investment Research
  • What financial analysts are looking for in 2011 financial statements
  • Good examples of financial statements
  • How companies can help analysts make the transition
  • Review of Canadian IFRS disclosures to date

Anthony Scilipoti is a CA and CPA and a member of the Association of Certified Fraud Examiners. He is a member of the Canadian Accounting Standards Board and the CICA's Users Advisory Committee. He also served on the CICA's Emerging Issues Committee between 2004 and 2011. In 2006, Anthony was awarded the Award of Distinction by the Institute of Chartered Accountants of Ontario for his impact and leadership in the accounting profession among those under 40.

 
2:50 - 3:10 Networking Break 2:50 - 3:10<
 
3:10 - 4:00
Key Issues and Difficulties Encountered by Auditors
Clair Grindley, Associate Partner, Deloitte
  • What are the main financial reporting issues that are coming up during audits?
  • Results from the first and second quarterly reporting
  • Practical tips and strategies from the auditors
  • What you can do to minimize problems
 
4:00 - 5:00
Update on Standards for Financial Instruments
Kate Ward, Principal, Accounting Standards Board of Canada
  • Status of IASB project to replace IAS 39:
    • impairment of financial assets
    • hedge accounting
  • Status of FASB financial instruments project
  • Offsetting financial assets and financial liabilities
  • Other developments

Kate Ward, MBA, CA, joined the Accounting Standards Department as a Principal in January of 2003. She is responsible for monitoring international developments related to financial instruments as well as the joint IASB/FASB Revenue Recognition project. Most recently, she developed the new standard for Financial Instruments for use by private entities. Prior to joining the AcSB staff, she worked for many years in the banking industry holding positions in accounting policy, controllership, risk management, training and account management with a particular focus on derivatives.

 
5:00 End of Day One 5:00
   

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2011 FACULTY OF SPEAKERS INCLUDES:
 
 
Marion Kirsh
Associate Chief Accountant
Ontario Securities Commission
Rebecca Villmann
Principal
Accounting Standards Board
Sylvie Anctil-Bavas
Chief Accountant
Autorité des marchés financiers du Québec
Mary Sjoquist
Director of Communications
Public Company Accounting Oversight Board
Mark Barrysmith
Partner, KPMG LLP; former Professional Accounting Fellow, Office of the Chief Accountant, SEC
Maruf Raza
Partner
Collins Barrow LLP
Anthony Scilipoti
Executive Vice-President
VERITAS Investment Research
Brian Ludmer
Barrister and Solicitor
 
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CALL FOR SPONSORS

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Align your company with INFONEX's OSC/SEC course and connect with your target! For more information on partnerships or sponsoring this event, contact Jim Kelly at 1.800.474.4829 extension 244 or email.

jkelly@infonex.ca

 

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