EVENTS


  IFRS Transition Controls and Testing for NI 52-109 Certifications in 2010: A Workshop

NI 52-109 CERTIFICATIONS in 2010 and IFRS

Two-hour web-based workshop on Tuesday, January 26, 2010 beginning at
11am EST for two hours (8am PST, 9am MST, 10am CST and 12pm AST)

WORKSHOP OVERVIEW:

CEOs and CFOs of TSX listed firms must certify under National Instrument 52-109: Certification of Issuer’s Annual and Interim Filings as to the accuracy of a listed company’s financial statements as well as to the operating effectiveness of the company’s internal controls and disclosure controls. With the coming advent of International Financial Reporting Standards (IFRS) all TSX listed issuers must prepare for parallel IFRS and GAAP financial reporting activities in 2010 and related CEO and CFO NI 52-109 Certifications.

To help TSX issuers address the NI 52-109 challenges of 2010 and IFRS, Issues Central, Inc. is hosting a two hour workshop that will provide an in-depth and practical look at designing and implementing controls, as well as supporting effectiveness testing, to address the parallel GAAP and IFRS financial reporting requirements of 2010.

WHO SHOULD ATTEND?

CFOs, Controllers, Directors – Internal Audit, Compliance Managers, IFRS Project Managers and all who are involved with NI 52-109 compliance and easing the transition from GAAP-to-IFRS.

BENEFITS OF ATTENDING:
  • Accelerate your IFRS activities and take a proactive approach to addressing IFRS transition controls
  • Practical examples that you can put into action for NI 52-109 certifications in 2010
  • Reduce transition risk and compliance expense in 2010
  • Convenient and affordable session format allows you to access the workshop over the web
  • Familiarize yourself with industry leading tools to streamline your NI 52-109 and IFRS activities
WORKSHOP AGENDA:
  • Brief introduction of COSO model for internal controls and disclosure controls
    • Definition of controls and why we need them

  • Discussion of common frameworks for COSO and IFRS

  • Review of NI 52-109 certification requirements
    • Discussion of suggested documentation to support certification

  • The new Canadian Securities Administrators (CSA) language around NI 52-109 as it relates to IFRS

  • Review elements of project plan for documentation of controls and operational effectiveness testing in 2010

  • Conduct top-down risk based scoping analysis for both GAAP and IFRS
    • Developing a scoping tool
    • Entry of data and supporting risk profile charts – discussion of quantitative and qualitative    considerations
    • Why materiality only is not a legitimate approach to evaluate financial compliance and    internal control risk

  • Effectiveness testing overview
    • Statistical sampling and non-statistical sampling
    • Testing strategies

  • Review of GAAP controls in Accounts Payable and Disbursements
    • Required documentation including flowcharts, process walkthrough materials and    narratives, risk control matrices
    • Examples of testing procedures

  • Developing IFRS transition controls and testing
    • Developing IFRS controls detail
    • Develop IFRS test procedure
    • Examples of testing data and sample reports

  • Practical example: IFRS controls and testing for Property, Plant and Equipment
    • Developing control details
    • Developing the test procedures
    • Testing data
    • Required reporting

  • A Prediction: The Top 10 IFRS Controls and Testing focal points for 2010
    • The Top 10

  • Q&A Period

  • End of Workshop

Note: Once the workshop has been completed, attendees may decide to attend an optional thirty minute follow-on solution session of the COMPLIANCE PARTNER for NI 52-109 software product. The product provides an affordable, COSO based framework complete with controls and testing libraries and procedures for both GAAP and IFRS for 2010. COMPLIANCE PARTNER for NI 52-109 also provides automatic flowcharting of controls and processes, along with testing history, management and audit committee reporting.

WORKSHOP MATERIALS:

Attendees will receive the PowerPoint presentation materials used during the workshop plus a toolkit for undertaking top down risk based scoping and sample controls and testing materials for accounts payable/disbursements.

WORKSHOP INSTRUCTOR:

Cathy ConnellyCatherine Connally, Certified Internal Auditor, and President of Issues Central, Inc..

Catherine has over twenty-five years experience in financial compliance, internal audit and executive management. She has worked with over eight hundred organizations around the world on financial compliance and transition projects. She is an authority on both NI 52-109 and IFRS transition activities. Catherine is a co-author and primary architect of Canada’s leading governance and financial compliance products including COMPLIANCE PARTNER® for NI 52-109 and SOX 404, as well as IFRS PARTNER for streamlining and accelerating the transition from GAAP to IFRS.

 

REGISTRATION:

To register on-line Click Here, or download the registration form and fax to Issues Central, Inc. at
(416) 977-1200 Or call 1.800.410.6681 ext 112