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Program Agenda: Conference Day Two
Wednesday, September 21, 2011
| 7:30 - 8:30 |
Continental Breakfast |
7:30 - 8:30 |
8:30 - 8:40
Opening Remarks from the Chair
Martin Roy, Associate Partner, Deloitte
8:40 - 9:40
Keynote Case Study:
Financial Reporting at Canadian Tire: 2009 Industry Winner of the Award of Excellence for Corporate Reporting
Brian Fiedler, Vice-President, Finance, Canadian Tire Corporation
- Ups and downs on the journey to IFRS transition at Canadian Tire Corporation
- Areas of focus for accounting issues
- Impact on staff, accounting systems and other processes
- Communication strategies, both internally and externally
- IFRS in practice: what are the challenges for the future
- Other current financial reporting challenges at Canadian Tire Corporation
- Tips and advice on sustaining effective financial reporting at your organization
9:40 - 10:40
Disclosure Examples: Focus Areas in 2011 for Regulators and Examples of Corporate Files
Kelly Gorman, Deputy Director, Corporate Finance Branch, Ontario Securities Commission
Lisa Enright, Manager, Corporate Finance, Ontario Securities Commission
- Continuous disclosure (CD) review program
- Reporting and disclosure issues associated with market conditions
- Disclosure of pension funding obligations for issuers with defined benefit pension plans
- Compliance with new accounting requirements related to financial instruments disclosures
- Compliance with new accounting requirements for inventory
- Qualitative and quantitative criteria to identify issuers and improve their disclosure to meet CSA requirements
- IFRS-related amendments to Corporate Finance rules and the
- Results of recent targeted review focused on IFRS transition disclosures provided by public companies
| 10:40 - 11:00 |
Networking Break |
10:40 - 11:00 |
11:00 - 12:00
Annual and Quarterly Disclosures: Ensuring 2011 Disclosures Are Up to Date
Matthew Welchinski, Manager, Deloitte
- Examining the IFRS 1 and NI 52-320 transitional disclosure requirements
- Real-life examples of disclosures
- Ensuring users of your financial statements understand the transition to IFRS and avoid later confusion
- Distinguishing between changes to financial statements caused by the transition to IFRS versus the change in the underlying operations
| 12:00 - 1:10 |
Luncheon Break |
12:00 - 1:10 |
1:10 - 2:00
MD&A Best Practices and IFRS Convergence
Brian Ludmer, Barrister & Solicitor, Ludmer Law
- Update on current and pending developments affecting MD&A
- MD&A, FOFI, earning guidance and other requirements under applicable regulations
- Guidance available from OSC and SEC annual review of corporate filings
- IFRS conversion issues
- Identification of the high-risk areas
- Impact of the economy on MD&A preparation and disclosure practices
- Litigation trends related to MD&A disclosure
- Dos and don'ts for a good MD&A
2:00 - 3:00
Case Study
Financial Reporting at RoundPoint Financial
Ravi Correa, Chief Accounting Officer, RoundPoint Financial Group
- IFRS implementation process at ResMor Trust Company (accounting, systems and processes)
- Key accounting issues encountered
- Discussion of system improvements
- Implementation of IAS 39: Derecognition and Continuing involvement
- Challenges for Dual reporting entities: IFRS and U.S. GAAP
| 3:00 - 3:20 |
Networking Break |
3:00 - 3:20 |
3:20 - 5:00
Open Forum Panel Discussion
Best Practices for an IFRS Transition and Techniques for Effective Reporting
MODERATOR: Maruf Raza, Partner, Collins Barrow LLP
Ravi Correa, Chief Accounting Officer, RoundPoint Financial Group
Brian Fiedler, Vice-President, Finance, Canadian Tire Corporation
- Time management of IFRS transition: converging on time and adapting to changes
- Application side of the transition: what worked and what didn't
- Amendments in financial reporting to adapt to IFRS
- Going live: theory vs. practical issues
- Mistakes to avoid: what to expect and how to deal with common stumbling blocks
- Different ways of undergoing the transition and their outcomes
- Training and communication with staff and regulators
- Internal controls
- Reporting to stakeholders
 Appointed to the Accounting Standards Board's IFRS Discussion Group in 2009 Maruf Raza is an expert with in-depth knowledge of IFRS and the challenges that the application of IFRSs are creating in Canadian financial reporting.
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