2-Part Series - PSAB Update and Asset Retirement Obligations
2-Part Series - PSAB Update and Asset Retirement Obligations
This is a two-part webinar series that 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).

Who Should Attend:
Local government staff that are responsible for financial reporting, or need to be aware of the impact of asset retirement obligations.

Part 1 Webinar
Objectives:
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?

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

Part 2 Webinar
Objectives:
Following MFOA’s March webinar introducing the key elements of the asset retirement obligations exposure draft, this webinar will focus on practical next steps and a project plan for municipalities to prepare to meet these reporting requirements. While the new handbook section on asset retirement obligations is yet to be released in final, municipalities need to start now to assess impact since the implementation period is expected to be short.

KPMG’s team of subject matter experts will walk you through practical steps you can take to assess impact, and prepare to implement this new section.

What You will Learn: Questions we will look to answer in the webinar include
  • What does your municipality’s comprehensive plan to assess in-scope assets look like?
  • How should your project plan address Council’s information needs?
  • How do you effectively engage other internal stakeholders, and your financial statement auditors?

Benefits of Attending: Participants can expect to
  • Gain a clear understanding of an effective project plan to assess the impact of asset retirement obligations
  • Engage key internal and external stakeholders strategically
  • Develop an effective communication strategy for Council

About your Webinar Leader:
Bailey Church 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 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

SINGLE WEBINARS: Each webinar in this series can be purchased separately. Click here for part 1. or click here for part 2.
Discounted member price: 155.00
225.00
You could save: 31.1%
 

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