18th Annual IFRS Masterclass

Applying the new IFRS Standards and their impact on long-term business consequences

25 Feb 2020Crowne Plaza, Auckland
Event Details

Agenda

8:30
Registration and coffee
9.00
Opening remarks from the Chair
Richard Smyth, Deputy CFO, SKYCITY Entertainment Group
9.10
IASB Update: update on IASB projects and the Interpretations Committee
  • Examining the most recent IFRS standards and Requirements
  • Conceptual frameworks for financial reporting
  • Enhancing the understandability and timeliness of financial information
Alan Teixeira, Global Director of IFRS Research, Deloitte
Sue Lloyd, Vice Chair , IASB
10.40
Morning Break
11.10
Financial Markets Authority Address: Improving New Zealand’s financial markets
  • The key insights and initiatives FMA are adopting to strengthen the quality of New Zealand’s financial markets in the age of globalisation
  • Leveraging risk-based approaches to develop strong financial markets
  • Achieving quality financial reporting
  • FMA’s future outlook on growing capital markets Sanja Sesto, Manager – Capital Markets Disclosure, Financial Markets Authority
Sanja Sesto, Principal Advisor - Capital Markets Disclosure, Financial Markets Authority
11.40
IFRS Standards Update
  • IFRS Standards Update
  • Reflecting on the introduction of IFRS 9 Financial Statements, IFRS 15 Revenue from Contracts with Customers, and IFRS 16 Leases
  • Leveraging IFRS standards to better improve the quality and assurance of New Zealand accounting practices
James Lindsay, Technical Senior Manager - Accounting Advisory Services, BDO Auckland
12.10
Exploring the implications of adopting IFRS16 Leases
  • Implementing IFRS16 to enhance understandability and transparency in financial reports   

  • Choosing the right technology/vendor to partner with
  • Understanding and utilizing IFRS16 transition methods  
  • Impact of IFRS 16 on the business lease vs. buys decisions.
Ivan Wells, Senior Manager Finance Systems – Operations and Change, Westpac Chris Hillier & Senior Manager – External Reporting, Westpac
12.40
Lunch Break
1.30
Forthcoming proposals from the IASB
  • How the IASB proposals will make target improvements to the income statement
  • Introducing disclosure requirements for Management Performance Measures
David Bassett, Deputy Director - Accounting Standards, New Zealand External Reporting Board
2.00
Lessons learnt from the implementation of three standards: financial instruments, revenue recognition and leases
  • Thoroughly examining the transition options – how well were they explored
  • Reviewing the transition processes and reflecting for future implementation
  • Additional disclosure: did senior management and those charged with governance appreciate the significance of the changes?
  • Are the Reduced Disclosure Regime (RDR) disclosure concessions made still fit for purpose?
Mark Hucklesby, National Technical Director, Audit, Grant Thornton
2.30
Examining the post-application of IFRS15 Monitoring the post-application efforts performed by businesses
  • Observing the key lessons identified during IFRS15 transition
  • The impact IFRS15 had on communication and business processes
Jason Stinchcombe, Audit & Technical Partner, RSM
3.00
Demonstrating integrated reporting as a leading practice
  • A look into how optimising integrated performing for long term business value
  • An in-depth understanding of how companies benefit from integrated reporting
  • Leveraging integrated reporting for better longterm business decision making
  • Integrated reporting to optimise transparency and strengthen relationships with stakeholders
Liz Prescott, Technical Director: Projects and Stakeholder Support, International Integrated Reporting Council
3.30
Afternoon break
4.00
Case Study: Optimising business performance at Westpac through Integrated Reporting

With a goal of strategic and transparent communication, integrated reporting allows businesses to convey their overall strategy and performance and show how this will lead to longterm value and better decision making. Learn how Westpac have utilised integrated reporting to communicate their business strategy and performance to investors and staff, and the longterm value this created.

Mark Yeoman, Ex CFO now COO, The Warehouse Group
4.30
Leveraging Management Reporting for long term business success and value
  • Reflecting on past business performances to foresee future growth and profitability
  • The link between integrated reporting and integrated thinking: creating value
  • Disclosing business reporting trends to better inform staff and investors
  • Leveraging integrated reporting for better long-term business decisions
Caroline Bridges, Lecturer - Accounting, University of Auckland
5.00
Closing remarks from the Chair and networking drinks
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