Changes in accounting for financial instruments - Melbourne

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Friday 3 September
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 workshop to cover an understanding of these changes in accounting for financial instruments in the context of the broader standard setting agenda, an explanation of the changes and a corporate perspective to managing treasury against an uncertain financial reporting backdrop.

This workshop seminar will cover:

• Review of the political landscape
• Outlook for the immediate changes proposed
• The need for preparers and users in the Australian market to have a voice.
• Classification of the proposed changes
• Impacts on impairment, hedging and fair value measurement
• Corporate treasurer’s perspective of the treasury priorities in the current climate
• Prioritising objectives when accounting and economics do not align
• Complexity in reported performance - helping stakeholders to understand the value in treasury

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.

Ashley Rockman, Partner, Global Capital Markets Group at PwC leading the treasury solutions team, specialising in advising clients in relation to hedging, financial instruments and funding solutions.

Graeme Vavasseur CFTP, Assistant Group Treasurer, Amcor Group Treasury. Prior to joining Amcor, Graeme worked in various corporate treasury and other finance functions for major Australian companies such as AWB, North Ltrd and SP AusNet (formerly PowerNet) in specialist treasury roles. Graeme is also an active member of the FTA’s Victorian Technical Committee.