IFRS
Meeting 12:00pm - 1:30pm
Registration begins at 11:30pm
International Financial Reporting Standards (IFRS)
Kevin Corbett, Ernst & Young
Objectives: For several
years, there has been little doubt that International Financial
Reporting Standards (IFRS) was gaining momentum to become the single
set of globally accepted accounting standards. To date, more than
110 countries have either moved to or base their local standards on
IFRS. Several more countries, including Canada, are scheduled to
adopt IFRS by 2011.
In the United States, momentum, along with anxiety, has been
building. In August 2008, the US Securities and Exchange Commission
approved for public comment its long-awaited proposed Roadmap
related to the eventual use of IFRS by US companies. The proposed
Roadmap anticipates mandatory reporting under IFRS beginning in
2014, 2015 or 2016 (depending on the size of the issuer) and
provides for early adoption in 2009 by a small number of very large
companies that meet certain criteria. The Roadmap also identifies
several milestones the SEC will consider in making its 2011 decision
of whether to proceed with mandatory IFRS adoption the US. Recently,
debate has been increasing as to whether IFRS would become a reality
for US companies.
Regardless of your point of view regarding the move to IFRS, an
eventual conversion of this magnitude is not just another technical
accounting exercise. Its impact is far-reaching and will affect
many, if not all, of your company’s business units. The
complexities are significant, and even the most comprehensive
implementation program your company considers will take time.
Regardless of your expected conversion date, now is the time to
understand the impacts to your company
Kevin Corbett, CPA is the Markets leader for Ernst & Young’s
Advisory Practice of the Southwest Area. Kevin has over 29 years
serving both public and private clients in the Energy and Banking
industries. For the past ten years, Kevin has focused on helping
clients manage risk and change within their organizations. One
particular change of significance has been the move towards
International Financial Accounting Standards. Kevin is the leader of
EY’s Southwest Area IFRS Advisory team and has been extremely active
advising and assisting clients in their consideration and
undertaking of IFRS conversion.
Kevin holds a Bachelor of Science degree in Accounting from
Oklahoma State University, where he serves on the School of
Accounting Advisory Board and the OSU Foundation Board of Governors.
1 Hour Continuing Education
Make your Reservation On line!
CAST Meeting 10:30am - 11:30am
Registration begins at 10:00am
Audit Objectives and Project Development
Frank Caliri, Safety-Kleen, Inc.
Objectives: Establishing audit objectives for an engagement require the
converging of speed and quality. This presentation will focus
on this balance, as well as the importance of conducting preliminary
assessments of risk and documenting a plan, including objective,
scope, timing, and resource allocations.
Frank Caliri is the Vice President of Internal Audit at
Safety-Kleen, Inc., an environmental services company focused on
re-refining used oil. Frank’s experience includes serving as
the Vice President of Internal Audit at Brinker International, a
Fortune 500 company which owns Chilis, On-The-Border, and Maggianos
restaurants. Prior to Brinker, he was Senior Manager of
Internal Audit at Staples and spent a number of years in public
accounting with an emphasis on financial reporting. In recent
years, his emphasis has been on ensuring risk is managed and aligned
with corporate strategy and across functional disciplines.
Additional areas of focus include finance, operations, legal
compliance, and information systems.
1 Hour Continuing Education
Make your Reservation On line!
Pre-Meeting 10:30am - 11:30am
Registration begins at 10:00am
Convergence of IFRS & US GAAP
Rob Bright, AC Lordi
Objectives:
As our global economy has continued to expand,
shareholders and other users of financial statements have demanded
more consistency in accounting policies between countries. In 2002,
the standard setting bodies of the International Accounting
Standards Board (IASB) and the Financial Accounting Standards Board
(FASB) agreed to work towards convergence. Rob will be discussing an
overview of IFRS and the proposed timeline for public companies to
adopt international standards. This session will also highlight
significant differences between IFRS and US GAAP. Lastly, Rob will
discuss challenges as well as best practices for establishing an
implementation plan.
Rob Bright, CPA is a principal in the AC Lordi Accounting
and Business Services group and provides technical leadership to his
clients. Rob assists clients with GAAP accounting
pronouncement implementation and interpretations. Rob has more
than 20 years of accounting and audit experience, including
expertise with GAAP, SEC reporting, and due diligence. Rob has also
led special projects at Towers Perrin involving up to 35 consultants
and contractors. Prior to joining AC Lordi, Rob was a
Shareholder at Fischer Cunnane & Associates.
While at Fischer Cunnane, Rob oversaw all technical
guidance and research related to accounting pronouncements for the
accounting and audit practice. He also led the initial DuPont
Medical Units’ divestiture implementation team and managed
outsourced tax department services, accounts payable, and 1099
projects for Scott Paper/Kimberly-Clark. Rob was also a Manager
with Deloitte & Touché, where he worked with clients spanning a
broad spectrum of industries, including manufacturing, wholesalers
and distribution, software development, trucking and transportation,
oil and gas, leasing companies, property and casualty insurers,
employee benefit plans, non-profit organizations and service
companies. He holds a B.S. in Accounting from Pennsylvania State
University, and serves on the Board of Directors of the Southeast
Pennsylvania Area Health Education Center.
1 Hour Continuing Education
Make your Reservation On line!
Post-Meeting 1:30pm - 2:30pm
FASB Codification and FASB Update
Rob Bright, AC Lordi
Objectives: Rob will review the
new GAAP codification and its impact on financial reporting.
Although the codification does not technically affect current
accounting principles, its impact on financial reporting must be
addressed in the reporting period ending September 30, 2009. Rob
will also cover a high level discussion of recent GAAP
pronouncements.
Rob Bright, CPA is a principal in the AC Lordi Accounting and
Business Services group and provides technical leadership to his
clients. Rob assists clients with GAAP accounting pronouncement
implementation and interpretations. Rob has more than 20 years of
accounting and audit experience, including expertise with GAAP, SEC
reporting, and due diligence. Rob has also led special projects at
Towers Perrin involving up to 35 consultants and contractors. Prior
to joining AC Lordi, Rob was a Shareholder at Fischer Cunnane &
Associates.
While at Fischer Cunnane, Rob oversaw all technical
guidance and research related to accounting pronouncements for the
accounting and audit practice. He also led the initial DuPont
Medical Units’ divestiture implementation team and managed
outsourced tax department services, accounts payable, and 1099
projects for Scott Paper/Kimberly-Clark. Rob was also a Manager
with Deloitte & Touché, where he worked with clients spanning a
broad spectrum of industries, including manufacturing, wholesalers
and distribution, software development, trucking and transportation,
oil and gas, leasing companies, property and casualty insurers,
employee benefit plans, non-profit organizations and service
companies. He holds a B.S. in Accounting from Pennsylvania State
University, and serves on the Board of Directors of the Southeast
Pennsylvania Area Health Education Center.
1 Hour Continuing Education
Make your Reservation On line!
Meeting Location
Cityplace Conference Center,
2711 North Haskell Street, Dallas, Texas 75204
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