Thursday, 6 December 2012, Warsaw, Poland
IFRS: changing landscape, practical solutions for businesses and investors in Central and Eastern Europe
Session 1 – IFRS: Where do we stand? Changes and plans for 2012 and beyond
- Philippe Danjou, Board Member, International Accounting Standards Board (IASB)
- Anna Sirocka, Polish Accounting Standards Committee member, Partner Ernst & Young
This interactive session updates the audience on new and amended IFRSs and the IASB’s main active projects. The audience will have the opportunity to ask questions on the impact that those changes may have for the business community, users and the larger financial reporting environment.
Session 2 – An IFRS Case Study: The Open Country Safari Company
- Michael Wells, Director, IFRS Education Initiative, IASB
This is a practical and interactive session. Using a case study, the audience will be guided through the typical decision process a company may go through when having to evaluate assets in changing investment environments. In those circumstances, a company is typically faced with a number of judgements in developing and applying its accounting policies. The audience will be asked to participate in each decision throughout the case study via an electronic voting system to simulate the process that the business itself would be going through. The results of each decision will be displayed and discussed throughout the case study. Those attending the conference are expected to have read the case study in advance of attending the session.
Session 3 – Technical Focus: Valuation and Impairment
- Mariela Isern, Senior Technical Manager, International Accounting Standards Board
- David Cairns, International Financial Reporting Expert
- Tomasz Konieczny, Polish Accounting Standards Committee member, Partner PricewaterhouseCoopers
The session explores the current exposure of balance sheets to the influence of IFRS 13 and IAS 36 with examples demonstrating the impact these two Standards on preparers, auditors and lenders.
Session 4 – KEYNOTE PRESENTATION. Beyond the Standards: Regulation and Enforcement – Current Developments in the EU
- Roxana Damianov, Senior Officer in ESMA’s Investment and Reporting Division
- Ilona Pieczynska-Czerny, Polish Financial Supervision Authority
Regulators will give their views on the financial reporting environment in the aftermath of the 2008 financial crisis. The speakers will comment on the changes they think are needed needed in the near and longer term.