IFRS Implementation for Mining
Meeting Industry-Specific Accounting and Reporting Obligations for the Transition to IFRS
Conference: August 19 and 20, 2008
Optional Workshops: August 21, 2008
Novotel Toronto Centre Hotel · Toronto, Ontario
Optional Pre-Conference Workshops
Thursday, August 21, 2008
9:00 - 12:00
Workshop One
IFRS Transition: What You Need to Know to Succeed
Bill Murphy, Partner, KPMG Canada
Yael Woodward, Senior Manager, KPMG Canada
This workshop will be an interactive discussion on how to operationalize
the key points identified in the previous day's session, Developing an Effective Implementation Plan for Your Mining Company, to ensure that your implementation to IFRS succeeds. Discussions will revolve around the key aspects of effectively managing this process.
- Accounting and reporting
- Business issues
- Systems and processes
- People
- Project management
Delegates will also be asked to participate in a group discussion on the current stages of their conversions to IFRS, the major hurdles they are facing, and what they are doing to overcome these hurdles.
1:00 - 4:00
Workshop Two
In-Depth Examination of IFRS Issues Specific to the Mining Industry
Dave Oldham, Senior Manager, KPMG Global Mining Group
Dan Ricica, Manager, KPMG Global Mining Group
The adoption of IFRS will have a significant impact on the preparation of financial statements for companies in all industries,
but will create particular challenges for the mining sector. Often, IFRS provides little guidance for a number of mining-specific
issues. This in-depth and interactive workshop will help provide guidance to mining companies implementing IFRS, as our facilitators
share their experiences working with leading global mining companies.
- Specific application of IAS 16 (PP&E), IAS 36 (impairment) and IAS 37 (provisions) to the mining industry
- Property, plant, and equipment (IAS 16): elements of costs, components, and depreciation
- Impairment of assets (IAS 36): concepts of cash generating unit, recoverable amount, and applying the trigger test; other important standards will also be discussed
- Discussion of IFRS 6 and the IASB current projects relating to exploration and evaluation (E&E)
- Typical IFRS 1 exemptions used by mining companies
- Case studies of the impact on financial reporting of IFRS for global mining companies
You will leave this workshop having gained the expertise and advice necessary for your
organization to successfully overcome the challenges ahead.
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