PSAB's New ARO Standard - A Deep Dive
PSAB's New ARO Standard - A Deep Dive
It's official - PSAB approved the final Handbook Section PS 3280, Asset Retirement Obligations late March 2018. Is your municipality ready to meet the requirements of this new standard for fiscal years beginning on or after April 1, 2021?

This new section is the only ARO standard to explicitly define buildings with asbestos as in scope. Do you have a full understanding of potential retirement obligations, including asbestos and other contaminants that will apply to you?
What You will Learn
Questions we will look to answer in the webinar include:
  • What judgement will need to be applied in determining the extent of your retirement obligations, and how should these be measured based on applicable regulations?
  • What will your auditor’s expectations be with respect to ARO’s, and particularly your scoping and measurement of buildings with asbestos?
  • PS 3280 rescinds the existing guidance on solid waste landfill accounting, and rolls it into the new section. How do you go about transitioning existing landfill accounting?

Who Should Attend
Local government staff that are responsible for financial reporting related to asset retirement obligations.

Benefits of Attending
Participants can expect to:
  • Gain a clear understanding of PSAB’s hot-off-the-press asset retirement obligations section
  • Gain insights into the scoping and planning your municipality should start now for this impactful new standard

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 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.
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