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GAAP and GAAS – Updates, Insights and Tools for 30 June 2008

Introduction  

Our objective is to provide you with a practical update on financial reporting, auditing and ethics for the 30 June reporting season so that your risks can be effectively managed. Our seminar speakers are experts in their fields:

  • Colin Parker, Principal, GAAP Consulting, and a member of the Australian Accounting Standards Board
  • Justin Reid, WHK Group
  • Greg Pound, Independent Consultant, member of the Auditing and Assurance Standards Board

Date: 5 May (Registrations from 8.00 am)

Location: Medina Grand Melbourne, 189 Queen Street, Melbourne.

Two half-day sessions each bookable separately: GAAP – Financial Reporting for 30 June 2008 (8.30 am – 1.00 pm); and GAAS – Auditing and Ethics Update for 2008 (2.00 pm – 5.30 pm).

Seminar participant numbers is limited to 40. Our speakers will be available all day to answer your questions. We are pleased to receive your questions in advance of the seminar, just use the contact us. These questions will be answered no names basis at the seminar.

GAAP – Financial Reporting for 30 June 2008

Accounting Standards and Interpretations Operative (8.30-10.30)

  • AASB 7 ‘Financial Instruments: Disclosure’
  • AASB 101 ‘Presentation of Financial Statements’
  • Amending Accounting Standards
  • Interpretation on share-based payments, embedded derivatives
  • Recap of ‘Routine’ Year End Considerations

Speakers: Colin Parker and David Sauer

Morning Tea (10.30 – 11.00)

Accounting Standards and Interpretations Issued but not yet Operative (11.00– 12.15)

  • Borrowing Costs
  • Operating Segments
  • Amending Accounting Standards (ED 151, Inventories)
  • Business Combinations and Consolidation
  • Interpretations on treasury share transaction, Australian Petroleum Rent Resources Tax, customer loyalty programs

Speaker: Jim Dixon and David Sauer

Public Sector Accounting Standards Insight (12.15 – 1.00)

  • Revisions to AAS 27, AAS 29 and AAS 31 Completed
  • Whole of Government revisions
  • Service Concessions
  • Proposed NFP Definition and Guidance

Speaker: Jim Dixon

Networking Lunch (1.00-2.00)

GAAS – Auditing and Ethics Update for 2008

Auditing Update (2.00-3.15)

  • ‘Assurance Engagements other than Audits or Reviews of Historical Financial Information’
  • ‘Review of Financial Reports and ASRE 2405 Review of Other Historical Financial Information’
  • ‘Performance Engagements’
  • ‘Electronic Publication of the Auditor’s Report’
  • ‘Audit Implications on the Use of Service Organisations for Investment Management Services’
  • ‘Audit and Review Requirements for Australian Financial Services License
  • ‘Compliance Engagements’
  • The Clarity ‘Project’

Speaker: Greg Pound

Afternoon Tea (3.15-3.45)

ASIC Auditor Surveillance Program Results (3.45-4.30)

  • 56 Steps in Preparing for an ASIC Inspection
  • Review of latest inspection program results
  • Auditors disciplined

Speaker: Colin Parker

Audit Independence and New Ethical Rules (4.30-5.30)

  • Corporations Law and Professional Requirements
  • Network Firm Revision
  • Engagement Letters
  • Valuation Services
  • Conforming with Accounting Standards

Speaker: Justin Reid

Price and Further Information

Price: $495.00 (including GST) for each half day; whole day $990.00 (including GST)

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