Ready for convergence?The complexity of today's financial reporting disclosures falls short of meeting the information needs of investors. A potential solution to this growing problem is the convergence of U.S. Generally Accepted Accounting Principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting (GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). ) and International Financial Reporting Standards International Financial Reporting Standards (IFRS) are standards and interpretations adopted by the International Accounting Standards Board (IASB). Many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS). (IFRS). Rules-based vs. principles-based standards will need to be harmonized in a new reporting model built on principles-based standards that are simpler to adopt and interpret. 7:00 am >> Pre-Conference Breakfast Session | 1 additional CPE (Customer Premises Equipment) Communications equipment that resides on the customer's premises. CPE - Customer Premises Equipment credit Automated External Reporting & Converting from GAAP to IFRS This session will examine a case study of an organization that is moving from GAAP to IFRS to illustrate the issues associated with moving to a new accounting standard. 8:15 am >> Opening and Introductory Remarks MICHAEL P. CANGEMI President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Financial Executives International 8:30 am >> Keynote | RICK KETCHUM CEO, New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. Regulation 9:20 am >> Roadmap to Convergence -- Part I: Standards-Setters Objectives & Perspectives This panel will provide background regarding the accounting and auditing challenges of international financial reporting convergence. Key standard-setters will address the Financial Accounting Standards Board Financial Accounting Standards Board (FASB) Board composed of independent members who create and interpret Generally Accepted Accounting Principles (GAAP). (FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). )/International Accounting Standards Board The role of the Accounting Standards Board (ASB) is to issue accounting standards in the United Kingdom. It is recognised for that purpose under the Companies Act 1985. It took over the task of setting accounting standards from the Accounting Standards Committee (ASC) in 1990. (IASB IASB See International Accounting Standards Board (IASB). ) Norwalk Agreement; continuing progress in developing converged U.S. GAAP and IFRS standards, as well as the complementary balance in converged audit standards. Moderator * DAVID MORRIS President, Morris Consulting and Member, Consultative Advisory Group, International Auditing and Assurance Standards Board Panelists * ROBERT H. HERZ Chairman, Financial Accounting Standards Board * THOMAS E. JONES Vice-Chairman, International Accounting Standards Board  An editor has expressed concern that this article or section is .Please help improve the article by adding information and sources on neglected viewpoints, or by summarizing and * MARK W. OLSON This article needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. Chairman, Public Company Accounting Oversight Board The Public Company Accounting Oversight Board (or PCAOB) (sometimes called "Peekaboo") is a private-sector, non-profit corporation created by the Sarbanes-Oxley Act, a 2002 United States federal law, to oversee the auditors of public companies. * CRAIG W. CRAWFORD Member, International Auditing and Assurance Standards Board (IAASB) 10:35 am >> Break 10:50 am >> Roadmap to Convergence -- Part II: Regulatory Perspectives of the U.S. and the European Commission As standards-setters work through the challenges of creating a future converged set of accounting standards, the financial market regulators must also address the current state of U.S. GAAP and IFRS reporting for U.S. and non-U.S. filers. This panel will focus on the "IFRS Roadmap" and include a discussion of proposed U.S. Securities and Exchange Commission rules Securities and Exchange Commission Rules Rules enacted by the SEC to assist in the regulation of US financial markets. for reporting in IFRS or GAAP for U.S. companies and foreign registrants. Moderator * GREGORY JONAS Managing Director of Accounting Specialists Group, Moody's Investors Services Panelists * JULIE ERHARDT Deputy Chief Accountant--International Affairs, Office of the Chief Accountant, U.S. Securities and Exchange Commission * PIERRE DELSAUX Head of Unit, DG Internal Market, European Commission * RICHARD THORPE Member, Financial Reporting Committee of the Committee of European Securities Regulators (CESR-fin); Head of Accounting and Auditing Policy, U.K. Financial Services Authority The Financial Services Authority ("FSA") is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. Its main office is based in Canary Wharf, London, with another office in Edinburgh. 12:05 pm >> Networking Luncheon 1:20 pm >> Keynote | KATHLEEN L. CASEY Commissioner, U.S. Securities and Exchange Commission 2:10 pm >> The Potential Impact of IFRS Adoption What impact would broad-based conversion to IFRS have on investors, anaylsts, companies and management? Moderator * DONALD NICOLAISEN Former SEC Chief Accountant Panelists: * ALISTER COWAN EVP Finance & CFO See Chief Financial Officer. , BC Hydro, British Columbia, Canada * DJ GANNON Leader, IAS Center of Excellence--Americas, Deloitte & Touche LLP * SAM RANZILLA National Partner-in-Charge--Department of Professional Practice--Audit, KPMG LLP * TIM SHAUGHNESSY Vice President & Controller, IBM Corporation 3:30 pm >> Break 3:45 pm >> Applying IFRS--The Good, the Bad and the Ugly This panel will provide "micro perspectives" on practical considerations and challenges in applying IFRS, through the eyes of the preparer and auditor. The panel will discuss real-time and specific considerations of recruitment, compliance staff expertise, IT systems needs and internal control implementation. It will also consider the implications of IFRS 1, First Time Adoption of International Financial Reporting Standards. Panelists * EDMUND HODGEON Partner, Global Capital Markets Group, PricewaterhouseCoopers, LLP * DANITA OSTLING E & Y Americas IFRS Leader, Ernst & Young, LLP * MARK SMITH Director, External Reporting, Tomkins plc 5:05 pm >> Closing Remarks MICHAEL MAIBACH President & CEO, European-American Business Council (EABC) 5:15 pm Conference Adjourns Agenda subject to change ** (subject to confirmation) [GRAPHIC OMITTED] Registration Information Cancellation Policy: If you need to change your plans, you may transfer your registration to another person at any time. No credits or refunds for no shows or cancellations after August 31. Contact us by email at conf@financialexecutives.org, by phone 973.765.1029, by fax 973.765.1031 or by mailing to: Financial Executives International, 200 Campus Drive, Suite 200, Florham Park, NJ 07932 ATTN: Conference Department. Hotel Reservations: A block of rooms has been reserved at the New York Marriott Marquis New York Marriott Marquis Times Square at 1531-1549 Broadway opened in 1985 and was designed by architect John Portman. It is located in the heart of Times Square at Broadway and 45th Street. Times Square at a group rate of $499.00 single/double plus taxes. The Marriott requires a one-night credit card deposit upon making reservations. Hotel cancellation policy is 72 hours prior to arrival date to ensure a full refund. Any reservations received after the cutoff date of September 6, 2007 (or if the group rate sells out early) will be on a space-available basis only. Reservations may be made by calling reservations at 800.832.4552 or 800.266.9432. Marriott Marquis Times Square, 1535 Broadway & 45th Street, New York, NY 10036. Conference Attire: Attendees feel comfortable in "Business" dress Car Rental Reservations: FEI Members--Need a rental car? Enjoy special member savings when you rent a car through Avis or Hertz. When making reservations use one of these numbers to get your discount: For Avis--800.331.1212 Code A759300 for Hertz--800.654.3131 Code 0008812. CPE Credits: Financial Executives International is registered with the National Association of State Boards of Accountancy For the technique in nucleic acid amplification, see . The National Association of State Boards of Accountancy (NASBA) is an umbrella group for the 55 state boards that regulate the accountancy profession in the United States of America. (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. Web site: www.nasba.org Instructional method: Group-Live. Recommended CPE Credits: up to 8. Experience Level: Intermediate. Prerequisites/advance preparation: None. |
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