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 Two
Wednesday, October 22, 2008
| 8:00 - 9:00 |
Continental Breakfast |
8:00 - 9:00 |
9:00 - 9:15
Opening Remarks from the Chair
Marcus Guenther, Vice-President, FocusROI Inc.
9:15 - 10:15
Case Study
Canada Post Corporation's Journey to Internal Controls over Financial Statements
Chris Boland, General Manager Finance, Canada Post Corporation
- Audit committee oversight/reporting
- Timing, issues, pitfalls, opportunities, challenges
- Testing methods used
- CEO/CFO sign off on internal controls
- Entry level, process level, S5970controls and testing
- Best practices for ICOFR
| 10:15 - 10:30 |
Networking Break |
10:15 - 10:30 |
10:30 - 11:30
Strategic Planning for IFRS: A Crown Corporation Perspective
Mark Maltais, Controller, Finance, Canada Deposit Insurance Corporation
- Process timeline: a hard target
- Fostering partnerships in the transition to IFRS
- Sustaining the process to the end
- Developing, assembling, and delivering results
- Next steps
11:30 - 12:30
Practical Approaches to Ensuring Quality Financial Information in Public Performance Reports
J. Bailey Church, Senior Manager, Public Sector Practice
KPMG LLP
- Employing financial statements as the key reference throughout the reporting process
- Identifying significant accounts and balances for reporting
- Whom you should report to and what you should report
- Preparing financial information for performance reports
- Ensuring quality of information and relevance in the report
- Comparing actual results versus intended results
- Linking financial and non-financial performance information
| 12:30 - 1:30 |
Luncheon Break |
12:30 - 1:30 |
1:30 - 2:30
Meeting Auditor Expectations: What Does the Auditor Need from You?
Doreen Hume, Associate Partner, Assurance and Advisory Services, Public Sector Group, Deloitte
- Ensuring that your financial statements will meet the requirements of the Office of the Auditor General (OAG)
- Form and format your documentation should take
- Steps involved for the proper submission of your statements
- Best methods on getting the OAG to sign off on your financial statements
| 2:30 - 2:45 |
Networking Break |
2:30 - 2:45 |
2:45 - 4:00
How to Prepare Your Department for Audited Financial Statements
Francis Sequin, Manager, Assurance and Advisory Services, Public Sector Deloitte
- Practical skills and tools your department will need to prepare for audited financial statements
- How to assess your departments readiness
- Supporting documents, working papers, and internal controls that are necessary to meet the new standards
- Lessons learned from the experiences of other departments and agencies, different levels of government, and segments of the private sector that have undergone audit readiness assessments.
- Financial control self-assessments: tools and techniques
- Risk-based internal-control assessment
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