Changes in accounting for financial instruments - Perth

Monday 11 October
12.00pm for 12.30pm start, 2.00pm Finish

The International Accounting Standards Board (IASB) and its U.S counterpart the Financial Accounting Standards Board (FASB) have embarked on a project of sweeping reforms to accounting standards, following the global financial crises and pressure from the G20 to achieve a single set of high quality accounting standards. Many constituents have voiced concerns about the quality of the resultant standards if so much was undertaken so quickly. In response the IASB and the FASB issued a joint statement on June 24, 2011, noting the need to prioritise certain projects and delay others. Emerging from this statement was a clear message that the completion of the IFRS 9 financial instruments replacement project is on the top of the list.

The FTA invites you to a presentation to give you an update on the changes to accounting for financial instruments so far, and the direction expected from here. The session will cover a broad overview of the political and standard setting landscape, a detailed briefing on the changes and a reflection on the topical issues for treasurers.

This workshop seminar will cover:

• Review of the political landscape
• Outlook for the immediate changes proposed
• Hedge accounting in the future - what to expect
• The Treasurers outlook post GFC - what have we learned and
• What are the topical issues

Presenters:

Kevin M. Stevenson, Chairman and CEO of Australian Accounting Standards Board, member of Financial Reporting Standards Board, NZ, and member of the Financial Reporting Council.

Therese Gough is a Director in the Global Capital Markets Group, focusing on speciality treasury services. She has extensive experience in performing internal control and internal audits of Corporate Treasury functions, including review of monitoring and operational controls and application of the good practice standards applied to the management of treasury and Sarbox compliance services in relation to treasury.

Therese also works with Corporate Treasury functions, particularly providing specialist accounting support and advice, as well as AASB 139 and AASB 7 accounting reviews for major multinationals.

Trevor Tilley FFTP Assistant Treasurer, Alcoa Australia, Trevor is the Assistant Treasurer at Alcoa of Australia Limited with over 12 years experience in Corporate Treasury and over 10 years as a member of the FTA. He has served on the WA Chapter Committee in various roles including Chapter Chair and joined the FTA Board as a Director in May 2009.

Trevor joined Alcoa as a graduate engineer and his 29 year career has included roles in engineering, accounting and commercial prior to his current Treasury position. He has served as trustee on the Alcoa Superannuation Fund and is an active volunteer in his community.