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PSAB Update and Planning Asset Retirement Obligations - 1
This is part one of a two-part webinar series will focus first on the key elements of the upcoming PSAB asset retirement obligations exposure draft (Part 1), followed by practical next steps and a project plan to address these changes (Part 2).
Part 1 Webinar
Later winter 2017, PSAB will issue an exposure draft for a new accounting standard that addresses the reporting of legal obligations associated with the retirement of long-lived tangible capital assets currently in productive use. In addition, PSAB is working on other new sections that will impact municipality financial reporting. Are you ready?
KPMG’s team of subject matter experts will update you on these pending new standards, and discuss how they will impact your accounting and financial reporting.
What You will Learn:
Questions we will look to answer in the webinar include
Do you understand the impact upcoming Public Sector Accounting Standards will have on your financial reporting?
Do you know the scope of retirement obligations to be included in the standard?
Do you know the criteria for recognition of a retirement obligation?
Do you know when it’s appropriate (and how) to measure the retirement obligation?
How can your municipality develop a comprehensive plan to assess all in-scope assets?
Do you have a consistent level of documentation that is fit for the purposes of your auditor?
Who Should Attend:
Local government staff that are responsible for financial reporting, or need to be aware of the impact of asset retirement obligations.
Benefits of Attending:
Participants can expect to
Gain a clear understanding for the scope, scale and requirements of the future asset retirement obligation standard
Understand the implications of the project on your organization
Understand other new and emerging Public Sector Accounting Standards which might impact your municipality
Prepare your municipality for an audit
About your Webinar Leader:
is the Leader of KPMG's National Public Sector Accounting Advisory service line. His more than 17 years of experience includes substantial work in financial management, accounting, financial reporting and auditing matters within the public sector environment. Bailey is a well-known speaker at seminars and conferences across the country, including the Municipal Financial Officers Association, the Government Financial Officers Association, the Institute of Internal Auditors, the Financial Management Institute, the Canadian Comprehensive Auditing Foundation, and the Office of the Auditor General. Bailey is currently serving as the Chair of CPA Canada’s Public Sector Accounting Board task force to develop an accounting standard on public private partnerships. Bailey joined KPMG in 2000. Bailey leverages his accounting advisory skill set and an extensive background in audit, internal controls, and advisory services to deliver client service excellence working at the cross-section of every major KPMG service line.
CPD CREDITS: Paid training is eligible for continuing professional education credits. Please check with your professional association to confirm that this qualifies for your CPD record
SAVE MONEY! BUY THE SERIES!:
Purchase this entire webinar series at a discounted price!
Click here for the webinar package.
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