Post-Summit Workshop C– Wednesday, 28 May 2008

Accounting For Financial Instruments Under IAS 39 And IFRS 7 Within Banks And Financial Institutions

Workshop Timings – Registration will commence at 08:00 with the workshop commencing at 08:30 and concluding at 14:30. There will be two breaks at appropriate times for refreshments and lunch will be served at the end of the day.

Introduction
The revised version of IAS 39 has now been in place for a long time and has been applied by many listed companies in their financial statements. However, because of complex rules and rapid changes to the standards, there is still a huge amount of uncertainty surrounding specific issues and applications. In addition, as of early 2007 the application of IFRS 7 “Financial Instruments: Disclosures” has become mandatory. It requires comprehensive disclosures of data that are – most likely – not readily available. Also, the disclosure rules of IFRS 7 heavily overlap with requirements introduced by Basel II. In this context, especially banks to face quite a number of implementation issues. The workshop - therefore - focuses on specific practical issues arising on the (first time and continuing) application of IAS 39 and IFRS 7. It will provide short practical examples of implementation issues and possible solutions. Also, you will have the possibility to ask questions that may have come up while preparing their companies financial statements.

Agenda
1. Basel II Expected Loss and IAS 39 Loan Impairment 
    Impairment under IAS 39
    Expected loss under Basel II
    Use of Basel II Parameter within IAS 39
Impairment Calculations
2. IFRS 7 and Basel II Disclosure (Pillar 3)
    Relationship between Pillar 3 and IFRS 7
Disclosure
    Disclosure Requirements
    Reporting Approaches
3. Impact of Credit Crises on IFRS Accounting
    Fair Value Measurement
    Impairment
    Consolidation of SPVs

Led By
Andreas Gerdes is a Managing Consultant at ifb AG in Germany. He has specialised in IFRS and Basel II and their application within banks and financial institutions. During the last 10 years he was engaged as a technical expert and project manager in numerous IFRS and Basel II conversion projects. His services are focused on the application of hedge accounting rules and the valuation of financial instruments regarding IAS 39. He combines technical
experience with a broad knowledge of IT-systems and project management. Before joining ifb Andreas worked for PricewaterhouseCoopers Consulting and IBM Business Consulting Services on projects in the areas of financial and management accounting, risk management and regulatory reporting. He also worked as a trainer for IFRS and risk management trainings.


"It is a good Forum for giving capsules for current and future update of the profession"
Dr Abubaker A Bagabir, Head of Finance and
Accounting, National Comercial Bank, KSA

" An excellent opportunity for world-class accounting and banking professionals"
Abdul Qadeer Mirza, Group Manager,
Banque Saudi Fransi, Riyadh, KSA

"Highly educative, informative and entertaining / refreshing event"
Jacob Abigun, CFO, Nigerian Air Force, Nigeria

"The event shed light on various perspectives of the role and development of Finance and Financial Reporting"
Mazen Hawa, Head of Finance, Kuwait Projects Co, Kuwait

Workshops

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