New IFRS standards 2013

The wave of Change

Recently, the IASB completed its overhaul of the accounting requirements for consolidation, off balance sheet activities and joint arrangements. It also completed its fair value measurement project. As a result, the board issued:

• IFRS 10 Consolidated Financial Statements;
• IFRS 11 Joint Arrangements;
• IFRS 12 Disclosure of Interests in Other Entities;
• IFRS 13 Fair Value Measurement.

The changes tighten up the reporting requirements for the consolidation of subsidiaries and special purpose entities, and require the substance of joint arrangements to be revealed. IFRS 13 provides an integrated framework for fair value measurement and related disclosures. Apart from these new standards, the board also significantly amended IAS 1 and IAS 19. The effective date for all these changes is 1 January 2013 (with comparable figures 2012). The changes may significantly affect your company. Keeping up with these developments is not only a challenge to finance and accounting departments but also to other departments that may be affected by the implications.

There is a lot of activity in the European playing field in which these (and other) standards are being discussed, developed and endorsed. We are therefore honored that Mr. Peter Sampers, Professor of Financial Accounting at Maastricht University, Senior Accounting Officer at Royal DSM N.V. and supervisory board member of the European Financial Reporting Advisory Group (EFRAG), will share his broader views, insights and perspectives on IFRS developments. In addition, experts from the PwC Accounting and Valuation Advisory Services group will guide you through the changes and provide practical examples.

This seminar will also provide you with an opportunity to network and share experiences with your peers. This seminar is free of charge and will provide you the opportunity to obtain CPE credits.

For whom?

CFOs, controllers and staff working in treasury- and group reporting (consolidation) functions.

Who are the presenters?

Peter Sampers Peter is Professor of Financial Accounting at the Maastricht University and Senior Accounting Officer at DSM N.V. Furthermore, Peter is member of several international committees that are involved in the standard setting/-application process, including the International Accounting Working Group of BusinessEurope (vice chairman) and EFRAG (supervisory board member and chairman of the Planning and Resource Committee).

Alexander Spek Alexander is partner at PwC and is the Dutch leader of the Accounting and Valuation Advisory Services group of PwC. He has many years of experience in advising and assisting companies with complex accounting matters.

Erik Roelofsen Erik is Professor of International Financial Reporting and Capital Market Communication at the Rotterdam School of Management, Erasmus University Rotterdam and director in PwC’s Accounting and Valuation Advisory Services group.

Frank de Lange Frank is partner in our Accounting and Valuation Advisory Services group with a focus on financial statements valuations (such as purchase price allocations and impairment reviews) and deal related valuations.

We look forward to meeting you on 1 December 2011 in Amsterdam.

Programme

Date

To be expected.

PE-points

Attending this seminar earns Auditors and Controllers 3 PE points. You will receive a certificate after attending the seminar.

Costs

This seminar is free of charge

Participation

You can register for this seminar until 24 November 2011 (preferably)

Location

• PwC Westgate 2 - Amsterdam