FINANCIAL REPORTING: CURRENT ISSUES, FUTURE PERSPECTIVES

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1 FINANCIAL REPORTING: CURRENT ISSUES, FUTURE PERSPECTIVES THE FINANCIAL REPORTING FACULTY S SECOND ANNUAL IFRS CONFERENCE 12 DECEMBER 2012, CHARTERED ACCOUNTANTS HALL, LONDON BUSINESS WITH CONFIDENCE icaew.com/frf

2 FINANCIAL REPORTING CURRENT ISSUES, FUTURE PERSPECTIVES Chartered Accountants Hall 12 December :30 registration for 09:00 start, 17:30 close Following the resounding success of our first all-day IFRS conference in 2011, join us for another key-note event in Exclusively for faculty members, this conference explores key issues in global financial reporting. The financial crisis and continuing efforts at global convergence have shifted the goalposts for business reporting. Join our leading-edge speakers from business, the standard-setters and the profession to consider key issues in financial reporting for the road ahead. Our conference will give you the critical, practical information you need in a time of continued regulatory change and severe economic uncertainty. Confirmed speakers/panel members include: Ian Mackintosh, Vice-chairman of the IASB Robin Freestone, CFO of Pearson Ruth Picker, Global Head of IFRS at Ernst & Young Bob Herz, former chair of the US standard-setter (FASB) Paul Druckman, CEO of the International Integrated Reporting Council Sue Harding, Director, Financial Reporting Lab Senior representatives of the UK Financial Reporting Council (FRC) IASB staff members responsible for the hedge accounting project Event code TFRFCNF Key technical topics we are likely to explore include: The standard-setting agenda key policy decisions from the IASB and the SEC. New IFRSs 10, 11, 12 and 13 and other changes to IFRS for 2012/2013 reporting. A brand new IFRS regime for financial instruments? We look at where we are and what you need to do to prepare. Ground-breaking new international standards on revenue recognition and leasing what you should expect and what you should be doing now. Implications for IFRS reporters of the new UK GAAP (due to be published Q4 2012), including the reduced IFRS disclosure framework for subsidiaries of UK IFRS reporters. Improving communication by UK listed companies: some ways and means. Integrated Reporting: the future of global reporting? We may update the programme to ensure you receive the latest information and the practical insights you need. Electronic voting facilities and panel sessions will allow you to contribute directly to the debate. Prices start at just VAT, including lunch and refreshments. Attendance is open only to members of the Financial Reporting Faculty. Details on how to join can be found below.

SPEAKERS Phil Barden, Partner, Deloitte Kathryn Cearns, Consultant Accountant, Herbert Smith Paul Druckman, Chief Executive Officer, IIRC Robin

faculty s Financial Reporting Editorial Board and is a member of its Financial Reporting Committee.

Kathryn is Consultant Accountant at Herbert Smith LLP, the international law firm.

Paul is Chief Executive Officer of the International Integrated Reporting Council (IIRC).

Paul has also chaired The Prince s Accounting for Sustainability Project (A4S) Executive Board and the FEE Sustainability Group.

A member of the faculty s Financial Reporting Committee, he also chairs the 100 Group s Investor Relations and Markets Committee.

She is co-chair of the International Accounting Standards Board s Capital Markets Advisory Committee, a member of EFRAG s User Panel, and a participant

Prior to that he was a senior partner with PricewaterhouseCoopers and also served as a part-time member of the IASB.

3 SPEAKERS Phil Barden, Partner, Deloitte Kathryn Cearns, Consultant Accountant, Herbert Smith Paul Druckman, Chief Executive Officer, IIRC Robin Freestone, CFO, Pearson Sue Harding, Director, FRC s Financial Reporting Lab Bob Herz, former chair of the US standardsetter (FASB) Phil chairs the faculty s Financial Reporting Editorial Board and is a member of its Financial Reporting Committee. He is a partner in Deloitte s National Accounting and Audit Team, and leads Deloitte s global expert advisory panel on revenue recognition. Kathryn is Consultant Accountant at Herbert Smith LLP, the international law firm. She is chair of the faculty s Financial Reporting Committee and chair of the Financial Reporting Advisory Board to HM Treasury. Paul is Chief Executive Officer of the International Integrated Reporting Council (IIRC). He was formerly: a director of the UK Financial Reporting Council; a member of the City Takeover Panel; and president of ICAEW. Paul has also chaired The Prince s Accounting for Sustainability Project (A4S) Executive Board and the FEE Sustainability Group. Robin joined Pearson in 2004 and was promoted to CFO in Before that he worked in a range of financial roles at ICI, Henkel, Amersham plc and GE. A member of the faculty s Financial Reporting Committee, he also chairs the 100 Group s Investor Relations and Markets Committee. Sue is the Director of the Financial Reporting Council s Financial Reporting Lab and an independent company reporting analyst. She is co-chair of the International Accounting Standards Board s Capital Markets Advisory Committee, a member of EFRAG s User Panel, and a participant in the Corporate Reporting Users Forum (CRUF). Bob is former chairman of the US Financial Accounting Standards Board (FASB). Prior to that he was a senior partner with PricewaterhouseCoopers and also served as a part-time member of the IASB. Bob also holds positions at the Columbia Business School, Fannie Mae, WebFilings and Morgan Stanley. Peter Hogarth, Partner, PwC Peter is a partner in PwC s Accounting Consulting Services group. He is a principal author of the firm s Manual of Accounting and is closely involved with many of the firm s initiatives concerning the future direction of financial reporting. Recently he has been leading PwC s global response to the IASB s proposals regarding leases. Peter is also a member of the faculty s Financial Reporting Committee.

SPEAKERS Eddy James, Technical Manager, Financial Reporting Faculty, ICAEW Paul Lee, Director, Hermes Investment Management Ian Mackintosh, Vice-Chairman, IASB

his professional career with KPMG where he qualified as a chartered accountant.

IFRS and UK GAAP. He is currently a technical manager in the Financial Reporting Faculty. Paul is a director at Hermes Investment Management in London.

He is also a member of the UK Auditing Practices Board and a member of the corporate governance committee of the Quoted Companies Alliance.

He was deputy chairman of the Australian Accounting Standards Board, and chaired its Urgent Issues Group. Ian also has substantial public sector experience.

She is also a member of Ernst & Young s global IFRS Policy Committee, and served on the IASB s International Financial Reporting Interpretations Committee (IFRIC)

Ruth is a former member and deputy chair of the Australian Accounting Standards Board (AASB), where she oversaw the adoption of IFRS in Australia.

4 SPEAKERS Eddy James, Technical Manager, Financial Reporting Faculty, ICAEW Paul Lee, Director, Hermes Investment Management Ian Mackintosh, Vice-Chairman, IASB Ruth Picker, Global Leader of IFRS Services, Ernst & Young Andy Simmonds, Partner, Deloitte Jed Wrigley, Fund Manager, Fidelity Worldwide Investment Eddy began his professional career with KPMG where he qualified as a chartered accountant. More recently he worked for BPP, one of the UK s leading professional training firms, writing and presenting CPD courses on a wide range of subjects including IFRS and UK GAAP. He is currently a technical manager in the Financial Reporting Faculty. Paul is a director at Hermes Investment Management in London. He is a participant in meetings of the Corporate Reporting Users Forum, which considers accounting standards development. He is also a member of the UK Auditing Practices Board and a member of the corporate governance committee of the Quoted Companies Alliance. Ian was formerly chairman of the UK Accounting Standards Board (ASB) and has played an active role in standard-setting since He was deputy chairman of the Australian Accounting Standards Board, and chaired its Urgent Issues Group. Ian also has substantial public sector experience. Ruth is Global Leader IFRS Services at Ernst & Young. She is also a member of Ernst & Young s global IFRS Policy Committee, and served on the IASB s International Financial Reporting Interpretations Committee (IFRIC) from July 2006 until June Ruth is a former member and deputy chair of the Australian Accounting Standards Board (AASB), where she oversaw the adoption of IFRS in Australia. Andy is chair of the Financial Reporting Faculty. In addition to being a Partner in Deloitte s National Accounting and Audit Team, he is a member of the FRC s Accounting Council (formerly the UK Accounting Standards Board), and represents the UK on EFRAG s Technical Expert Group. Jed, a fund manager at Fidelity, manages the Group s proprietary capital. He gives accounting support to the investment team and is a member of IASB Capital Markets Advisory Committee, EFRAG User Panel and formerly served on FASB Advisory Council. Other speakers/panellists may be added check icaew.com/frfconference2012 for details.

PROGRAMME 09:00 WELCOME Andy Simmonds, Partner, Deloitte, member of the FRC s Accounting Council and EFRAG TEG GLOBAL STANDARD-SETTING: THE NEXT PHASE Ian Mackintosh, Vice-Chairman, IASB IFRS

5 PROGRAMME 09:00 WELCOME Andy Simmonds, Partner, Deloitte, member of the FRC s Accounting Council and EFRAG TEG GLOBAL STANDARD-SETTING: THE NEXT PHASE Ian Mackintosh, Vice-Chairman, IASB IFRS REPORTING: PRACTICAL ISSUES FOR BUSINESS Robin Freestone, CFO, Pearson Ruth Picker, Global Head of IFRS, Ernst & Young BREAK IMPROVING COMMUNICATION WITH INVESTORS: CHALLENGES AND OPPORTUNITIES FROM CURRENT INITIATIVES Kathryn Cearns, Consultant Accountant, Herbert Smith Paul Druckman, CEO, the International Integrated Reporting Council (IIRC) Sue Harding, Director, FRC s Financial Reporting Lab LUNCH IFRS IN THE USA: LATEST NEWS AND VIEWS Bob Herz, former chair of the FASB LEASE ACCOUNTING: THE END IS NIGH? Peter Hogarth, Partner, PwC Jed Wrigley, Fund Manager, Fidelity Worldwide Investment NEW UK GAAP: WHAT IFRS REPORTERS NEED TO KNOW Senior representatives of the Financial Reporting Council FINANCIAL INSTRUMENTS: MAJOR CHANGE AHEAD IASB staff hedging Eddy James, Technical Manager, Financial Reporting Faculty BREAK IFRSs 10, 11, 12 AND OTHER NEW REQUIREMENTS FOR 2012/13 REPORTING; ARE YOU READY? Andy Simmonds REVENUE RECOGNITION: THE FINAL COUNTDOWN Phil Barden, Partner, Deloitte 17:30 CLOSING REMARKS Andy Simmonds

CONFERENCE FEES ATTENDANCE IS RESTRICTED TO ICAEW FINANCIAL REPORTING FACULTY MEMBERS. MEMBERSHIP RATES FOR THE REST OF 2012 START AT JUST 54.00 SEE DETAILS BELOW.

6 CONFERENCE FEES ATTENDANCE IS RESTRICTED TO ICAEW FINANCIAL REPORTING FACULTY MEMBERS. MEMBERSHIP RATES FOR THE REST OF 2012 START AT JUST SEE DETAILS BELOW. Early Bird until 31 October VAT Standard from 1 November VAT Faculty membership rates ICAEW members 54 (VAT exempt) FRFIEJTD10 Members of other GAA bodies 72 (inc. VAT) FRFI6MGAA Other reduced rate* 72 (inc. VAT) FRFI6MWB ICAS/CAI members 60 (VAT exempt) FRFI6MICAS CIPFA members 72 (inc. VAT) FRFI6MO Non-ICAEW members (inc. VAT) FRFIEJTD10 These promotional rates are for membership to the end of The faculty also offers a corporate membership scheme. For further details contact Thomas Stewart on +44 (0) or thomas.stewart@icaew.com. * The reduced rate for non-icaew/non-gaa/non-cipfa members is available to individuals resident in the economies eligible for discounts on World Bank publications, listed at publications.worldbank.org/discounts.

7 VENUE Designed by Sir John Belcher RA in 1893, Chartered Accountants Hall is a stunning venue in the heart of the City of London. Chartered Accountants Hall Moorgate Place London EC2R 6EA UK T +44 (0) F +44 (0) icaew.com For full conference details and to book a place contact: (quoting event code TFRFCNF121212) Events Booking Team T +44 (0) (Mon to Fri, 09:00 17:00, except Weds 09:30 17:00) E events.booking@icaew.com icaew.com/frfconference2012

8 The Financial Reporting Faculty is recognised internationally as a leading authority on financial reporting. The faculty s Financial Reporting Committee engages globally with policy-makers and standard-setters to help in the development of future reporting practice. Members of the faculty have access to a range of exclusive resources including webinars, factsheets and the faculty s journal By All Accounts, as well as benefiting from electronic access to the IASB s definitive online resource eifrs. The Financial Reporting Faculty practical help in a complex world. ICAEW is a founder member of the Global Accounting Alliance, which represents over 775,000 professional accountants in over 165 countries worldwide, to promote quality services, share information and collaborate on important international issues. ICAEW is a professional membership organisation, supporting over 138,000 chartered accountants around the world. Through our technical knowledge, skills and expertise, we provide insight and leadership to the global accountancy and finance profession. Our members provide financial knowledge and guidance based on the highest professional, technical and ethical standards. We develop and support individuals, organisations and communities to help them achieve long-term, sustainable economic value. Because of us, people can do business with confidence. ICAEW Financial Reporting Faculty Chartered Accountants Hall Moorgate Place London EC2R 6EA UK T +44 (0) E frfac@icaew.com icaew.com/frf ICAEW 2012 TECPLM /12

THE FUTURE OF CORPORATE REPORTING Monday 16 May 2016 Great Hall, Chartered Accountants Hall, 1 Moorgate Place, EC2R 6EA, London

THE FUTURE OF CORPORATE REPORTING Monday 16 May 2016 Great Hall, Chartered Accountants Hall, 1 Moorgate Place, EC2R 6EA, London PROGRAMME 17.00 Registration & refreshments 17.30 Welcome Tony Nicholl, President,