Accounting & Reporting for Mining

Successfully Navigate the Changing Landscape and Prepare for Incoming Standards

CURRENT RELATED EVENTS   Canadian Accounting & Reporting - Toronto Toronto · May 29-30, 2012 Public Sector Internal Controls Ottawa · May 29-30, 2012 Public Sector Risk & Controls Victoria · June 12-13, 2012 Internal Controls - Toronto 2012 Toronto · June 19-20, 2012 Financial Instruments and Hedging Toronto · June 19-20, 2012 Accounting and Reporting for the Mining Industry Vancouver · Aug. 21-22, 2012 OSC/SEC 2012 Toronto · Sept. 19-20, 2012

Mark Walsh, FCA, has been a principal with the Accounting Standards Board since 2001 and was the chair of the Emerging Issues Committee from 2004 to 2009. He was the AcSB representative on the project addressing accounting for oil and gas and mining activities that developed the IASB's 2009 Discussion Paper. Prior to joining the AcSB, Mark held senior financial positions with Imperial Oil Limited in Toronto and Calgary. An active member of Financial Executives International (Canada), he is Vice-Chair of the Canadian Financial Executives Research Foundation and a past Chair of the Committee on Corporate Reporting.

Dan Ricica Daniel has over nine years experience working in the mining industry with a focus on South American based clients. He recently returned from a two-year secondment to KPMG Brazil. Daniel has served as lead senior manager on a large variety of Canadian and SEC registrant mining clients. In addition, he has acted as project lead on a significant number of special engagements in the mining industry, including comparing mine site accounting policies and internal control advisory, IFRS conversions, financial due diligence, reviewing financial valuation mine models, as well as a large amount of work in prospectus share and debt offerings in both Canada and the United states. He has also spoken at a number of industry forums concerning IFRS accounting in the mining industry both in Canada and Brazil. Daniel has visited a number of both open pit and underground mines located throughout South America and around the world.

Heather Cheeseman specializes in the mining industry and has been involved with Canadian public clients, SEC registrants and South African companies, at both the operational and corporate levels. In a public accounting role, Heather has had experience with many issues that are relevant to the mining industry, including accounting for business combinations, asset retirement obligations, goodwill and mining asset impairment testing, capitalize vs. expense of exploration and development costs and deferred stripping. Heather has participated in specialized engagements in the industry including SOX advisory projects and ongoing IFRS conversion projects for mining clients, and completed a secondment to South Africa.

Luke Fraser has an extensive background in the mining space, working with large public and small scale private companies. Beyond statutory audits, Luke has worked with his clients through due diligence engagements on targets, and provided advisory services on acquisition accounting matters, IPOs and regulatory filings in relation to both Canadian and U.S. acquisitions including business acquisition reports to the related regulatory bodies.

Philip Maguire is the founder and principal of Glenidan Consultancy. He is a Chartered Accountant who received his designation while employed at Ernst & Young and a Certified Information Systems Auditor finalist. Philip and his team at Glenidan Consultancy are in the process of implementing a number of International Financial Reporting Standards (IFRS) conversion and transition plans. He has over 25 years of business experience in financial reporting and internal audit. Philip has represented the Canadian Institute of Chartered Accountants in presenting IFRS courses to business across Canada. He is also a member of the Accounting Standards Board Insurance Accounting Task Force - Associates Group that is addressing IFRS for insurance companies in Canada.

Liam Fitzgerald advises clients in the exploration and development stages as well as the production and processing stages of the mining industry. His focus is on advising Canadian-based multinational corporations on structuring their foreign mining operations, dealing specifically with issues such as cross-border financing, capital restructuring, repatriation techniques, M&A and tax shelter monetization. Liam has authored and co-authored several articles for the Canadian Tax Journal and the Federated Press publication Resource Sector Taxation.

Harriet Tuppen provides Canadian corporate tax services, including assistance in relation to corporate compliance, accounting for income taxes, corporate reorganizations, cross-border planning, flow-through shares and provincial mining taxes and levies. Harriet received her CA designation from the Institute of Chartered Accountants of England and Wales, having originally joined PricewaterhouseCoopers in London, UK in 1997. Harriet has been in Toronto providing advice to mining clients for the past six years. Harriet is involved in the provision of training for junior tax staff and has edited previous editions of PwC’s Canadian Mining Taxation publication.

John S. Cochrane is a chartered accountant with 34 years experience in public accounting and consulting. He and his firm provide accounting and advisory services to a large number of mining companies, most of whom are mining exploration companies. He has overseen the preparation of a set of IFRS-compliant illustrative financial statements for mining exploration companies and he has organized and acted as a presenter at three annual training sessions for mining exploration companies. In the last year he has also acted in a support and quality review capacity with respect to the first IFRS-compliant quarterly and annual financial statements prepared by the firm’s numerous mining and other clients. John is a member of a Grant Thornton international review team formed to review and comment on discussion papers and exposure drafts related to extractive industries and a member of the Mining Industry Task Force on IFRS organized jointly by the Canadian Institute of Chartered Accountants and the Prospectors and Developers Association of Canada. The latter task force has published a number of points of view regarding the application of IFRS to the mining industry.

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