Public Sector Accounting and Reporting
Strategies and Best Practices in Preparation for Audit 2009
Conference: October 21 and 22, 2008
Crowne Plaza Hotel · Ottawa, Ontario
Conference Program Agenda - Day One
Tuesday October 21, 2008
| 8:00 - 8:45 |
Registration and Continental Breakfast |
8:00 - 8:45 |
8:45 - 9:00
Welcome and Opening Remarks from the Chair
Marcus Guenther, Vice-President, FocusROI Inc.
9:00 - 10:00
Journey to Audit Readiness
J. Bailey Church, Senior Manager, Public Sector Practice, KPMG LLP
- Audit readiness
- Financial statement assertions
- Keys to success
- Elements of effective project governance and management
- Risk considerations
- Training and change management
- Roles and responsibilities of internal audit
| 10:00 - 10:15 |
Networking Break |
10:00 - 10:15 |
10:15 - 11:15
Case Study
Converting Canada Post Corporation from GAAP to IFRS
Chris Boland, General Manager, Finance, Canada Post Corporation
- Planning the method
- Timing, issues, pitfalls, opportunities, challenges
- Audit committee oversight
- Major and minor accounting differences
- Training and development of staff
11:15 - 12:15
Policy-Based Decision Making in the Public Service Sector
Marcus Guenther, Vice-President, FocusROI Inc.
- Delegating authority
- Corporate governance and management decision making
- Implementing the process and policies
- Timing, issues, pitfalls, opportunities and challenges
- Comparing the advantages of policy-based decision to delegation-of-authority methods
| 12:15 - 1:15 |
Luncheon Break |
12:15 - 1:15 |
1:15 - 2:15
Internal Controls in the Public Sector
Andrew C. Newman, Partner, Audit, Public Sector Practice, KPMG LLP
- Reviewing procedures and internal controls for key processes in your departments operation
- Testing the effectiveness of your internal controls
- Review of statement of management responsibility and certification of internal controls
- Impacts of new federal policies regarding internal controls
- Financial control self-assessments: tools and techniques
- Risk-based internal-control assessment
| 2:15 - 2:30 |
Networking Break |
2:15 - 2:30 |
2:30 - 3:30
Audits of Public Sector Financial Statements
Marcus Guenther, Vice-President, FocusROI Inc.
- Introduction to the public sector
- CICA standards relating to public sector accounting
- Financial statements of public institutions
- Financial statements of governments and Crown Corporations
3:30 - 4:30
Application of New Standards in Public Sector Accounting
Francis Sequin, Manager, Assurance and Advisory Services, Public Sector Group, Deloitte
- Accounting for Government Standards
- Defining and recognizing intergovernmental transfers
- Accounting for multi-year funding
- Accounting for financial instruments
- Making reporting as transparent and understandable as possible
- Applicability of hedge accounting for the public sector
- Segment disclosures
- Discussion of PS 2700 which too effect on April 1, 2007
- Disclosures of information about segments of a government to help users better understand the government's different activities
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