‘The Emergence Of The New Condorsement Approach DuringThe Eurozone Crisis And Global Turbulence’

www.iirme.com/accountingsummit

A free IFRS Practical Implementation Guide Third

Edition for the first 20 delegates!

Wiley

Third Edition

Practical Implementation

Guide and Workbook for

IFRS®

— Explanations of IFRS® and IFRIC interpretations

— Practical insights into implementation issues

— Worked-out illustrations and examples

— Case studies with solutions

— Multiple-choice questions with answers

— Extracts from published financial statements

Abbas Ali Mirza Graham J. Holt

Technical reviewer: Liesel Knorr, President of the German Accounting Standards Committee

and former Technical Director of the Internati onal Accounting Standards Committee (IASC)

Technical Updates on the latest changes critical to your business:• ThePackageof5:

- IFRS10:ConsolidatedFinancialStatements

- IFRS11:JointArrangements

- IFRS12:DisclosuresOfInterestsInOtherEntities

- IAS27&IAS28(Revised)

• IFRS9AndIAS39–FinancialInstruments

• IFRS13–FairValueMeasurement

• IAS11AndIAS18–Construction

• IAS40–Investmentproperties

• ExposureDraftsonLeasing&RevenueRecognition

- WithcriticaldebateconcerningIFRS3–BusinessCombinations:Combinationsundercommoncontrol

• Telecoms• LiquidNaturalGas

• PublicSector• Construction&RealEstate

Vertical Industry Masterclass panels on how to specifically relate IFRS to the following sectors:

Event Partners and Supporters

Three Workshops and Masterclasses:• IFRS&FairValues• OngoingDevelopmentingInIFRS• InternationalPublicSectorAccountingStandards

An extensive debate on whether IFRS are capturing the Sharia-compliant instruments market with esteemed speakers including the IASB and DFSA commenting on the following:• DefiningtheproblemofusingIFRSinSharia-compliantinstruments• WhatareIFRSdoingaboutit?

7th – 10th May 2012 • Dusit Thani Hotel • Dubai, UAE

Presents

In partnership with United Nations Conference on Trade And Development (UNCTAD)In partnership with United Nations Conference on Trade And Development (UNCTAD) Special

Early Bird:

save up to

US$ 1,497

Wayne UptonDirectorofInternationalActivities,Chairof

theIFRSInterpretationsCommitteeInternational Accounting Standards

Board,UK

Kevin StevensonChairman,Asian-Oceanian Standard-Setters Group,Chairman,Australian

Accounting Standards BoardAustralia

Tatiana KrylovaHeadofEnterpriseBranch,DivisiononInvestmentandEnterpriseDevelopment,United Nations Conference on Trade

and Development (UNCTAD)Switzerland

Atsu KatoViceChairman

Accounting Standards Board of JapanJapan

Peter CaseySeniorDirector,PolicyandStrategy,

HeadofIslamicFinanceDubai Financial Services Authority

UAE

G RamaswamyBoardMember

The International Federationof Accountants

India

Reyaz MihulerMESAHeadofIFRS

KPMGSriLanka

Abbas Ali MirzaPartner, Deloitte,Chairman, 21st Session

of ISAR/UNCTAD,Chairman, Dubai Chamber of Commerce’s Auditors

Group,UAE

Atiq Juma NasibSeniorDirectorCommercialServices

Dubai Chamber of Commerce & IndustryUAE

Rashid Rahman MirPresident

The Institute of Chartered Accountants of Pakistan

Pakistan

UNCTAD

Hear Directly From A Power Packed Speaker Line-Up On:➦ HowregulatorshavebeenadaptingtoglobalcrisesandwhattheirplansareforfurthercondorsementwithIFRS➦ CFOssharetheirkeystrategiestofundamentallychangethedirectionofyourorganisationforthebetter➦ TheBig4responsetoaccuratelyportrayingexposuretotheEurozoneandothercrisises➦ Theguidanceaccountingbodiesbeenprovidingtotheirmembersthroughchallengingtimesandhowtheycanfurtherhelpyou➦ HowthedowngradingcausedbytheSovereigndebtcrisisisaffectingbankbalancesheetsandtheaccountancytreatmentofbanks

Endorsed by:Dubai Chamber of Commerce

SpeakerFacultyAlsoIncludes:➦ G Ramaswamy,BoardMember, The International Federation of Accountants

➦ SeniorRepresentative, Saudi Organisation For Certified Public Accountants

➦ Rashid Rahman Mir,President, The Institute of Chartered Accountants of Pakistan

➦ Prof. Frans Van Schaik,ProfessorofManagementAccounting, University of Amsterdam,FormerMember, International Public Sector Accounting Standards Board (IPSASB)

➦ Kurt P. Ramin,DirectorandHeadofStandards, AccountAbility,FormerDirectorandAdvisor, IFRS Foundation at IASB

➦ Rajesh Pareek,ChiefFinancialOfficer, DIFC – Dubai International Financial Centre

➦ Sanjeev Agarwala,GroupChiefFinancialOfficer,Al Habtoor Group

➦ Arif Choksy,ChiefFinancialOfficer, Ducab

➦ Nauman Asif Mian,ChiefFinancialOfficer, Bayt.com

➦ R K Mehta,GroupChiefFinancialOfficer, Dhabi Group

➦ Yousef M Al Dwikat,SeniorFinancialAuditor, Arabsat

➦ Mousa Hamad,Finance&AdministrationManager, Globitel

➦ Wail I. Salman,GroupSeniorVicePresident–FinancialAccounting,Etisalat UAE

➦ Rajeev R. Shah,ManagingDirector&ChiefExecutiveOfficer, WorldVal RSBA

➦ Deepak Kumar Srivastava,FinancialController, Oman LNG LLC

➦ Reyaz Mihuler,MESAHeadofIFRS,KPMG

➦ Cynthia Corby,AuditPartnerandConstructionLeader,Deloitte

➦ Austin Rudman,RegionalProfessionalPracticeDirectorfortheMENARegion,Ernst & Young

➦ Yusuf Hassan,Partner,HeadofMESATechnical, KPMG

WhyshouldIattend?Learning to apply International Financial Reporting Standards (IFRS) is no more a luxury, but a necessity for every accountant, auditor, financial analyst and every financial professional as the International Accounting Standards Board’s IFRS are making rapid progress towards widespread acceptance worldwide.

The8thWorld Accounting Summit presents IFRSbringsyouthelatestupdatesintheIFRScurriculum,insightsfromtheinternationalregulatorsastotheprogressoftheStandardsworldwide,aswellaspresentationsfromthekeyprofessionsinkeyverticalindustriestohelpyoueffectivelyapplythemtoyouroryourclient’sbusiness.

In-depthworkshopsrunningalongsidethemainconferencewillalsohelpyoutohoneyourskillsintheapplicationofIFRS,tomakeyouandyourbusinessamorevaluablecommodity.

Tel: +971 4 335 2437 Fax: +971 4 335 2438 Email: register@iirme.com Web: www.iirme.com/accountingsummit

WhyareIFRSvitaltomy/myclient’sbusiness?• Business is global:Majorbusinessesoftenhaveoperationsandassetsthatspancountriesandcontinents.

Withoutspeakingthisaccountinglanguageyoucannoteffectivelycommunicateabroad

• Business is capital intensive:Majorinitiativesrequiresignificantcapital.Accountingandfinancialreportingprovideavitallinkbetweencompaniesandtheircapitalproviders

• IFRS helps open the doors to the global marketplace:AdoptingIFRScanimproveaccesstoforeigncapitalmarketsbygivingforeigninvestorsgreaterinsightintoacompany’sfinancialperformance.Investorshavemoreconfidenceinagloballyacceptedsetofaccountingstandardsandcompaniesthemselvesalsobenefitfromtheimprovedabilitytobenchmarkwithpeersandcompetitors

• Business is competitive:Inachallengingeconomyandahighlycompetitivemarket,companiesarecontinuallylookingforwaystostayaheadoftheirrivals,gaingreatermarketliquidity,alowercostofcapitalandabetterallocationofcapital

• Conversion provides a fresh look at practices: IFRSconversionprovidestheopportunitytotakeafreshlookatyourpoliciesandprocedures,actingasacatalystforstreamliningandconsolidationwiththeopportunitytouseprinciples-basedaccounting

Who will you meet?

Industry Sector Past Attendees Geography

Wiley

Third Edition

Practical Implementation

Guide and Workbook for

IFRS®

— Explanations of IFRS® and IFRIC interpretations

— Practical insights into implementation issues

— Worked-out illustrations and examples

— Case studies with solutions

— Multiple-choice questions with answers

— Extracts from published financial statements

Abbas Ali Mirza Graham J. Holt

Technical reviewer: Liesel Knorr, President of the German Accounting Standards Committee

and former Technical Director of the Internati onal Accounting Standards Committee (IASC)

A one-stop resource for understanding and applying currentInternational Financial Reporting Standards

SPECIAL OFFER : AfreeWileyIFRS Practical Implementation Guide and Workbook,Third Editionforthefirst20delegatestoregister!

➦Casestudieswithsolutions➦Multiple-choicequestionswithanswers➦Extractsfrompublishedfinancialstatements

➦ExplanationsofIFRSandIFRICinterpretations➦Practicalinsightsintoimplementationissues➦Worked-outillustrationsandexamples

Wayne Upton,DirectorofInternationalActivities,ChairoftheInterpretationsCommitteeInternational Accounting Standards Board

WaynejoinedtheIASBin2001after17yearsattheU.S.FinancialAccountingStandardsBoard.AsResearchDirector,hisassignmentincludedoversightoverprojectsontheIASB’sagendaandotherIASBtechnicalactivities.HewasdesignatedasDirectorofInternationalActivitiesin2008andinthatrolecontinueshisworkassistingbothmajorandtransitionaleconomiesinmakingthetransitiontoIFRSsandimplementingIFRSs.

HealsohandlesspecialprojectsfortheBoardandwasappointedChairoftheInterpretationsCommitteein2011.

“IFRSs provide the global accounting language that is needed in interconnected financial markets to ensure that investors and others can be/are provided with comparable, reliable financial reporting around the world.”

Kevin Stevenson,Chairman,Asian-Oceanian Standard-Setters GroupChairman,Australian Accounting Standards Board

AsChairmanoftheAsianOceanianStandardsSettersGroup,Kevinrepresents25countriesintheregionincludingbeingamemberoftheNewZealandAccountingStandardsBoard.HehasbeentheDirectoroftheAustralianAccountingResearchFoundationfrom1979to1989,afoundationmemberofvariousinterpretivebodiesincludingtheAASB’sUrgentIssuesGroup,theStandardsInterpretationCommitteeoftheIASCandthe

IFRICofwhichhewasthefirstChair,andthefirstDirectorofTechnicalActivitiesattheIASB.Healsohassignificantexperienceinpublicpractice,including15yearsasaSeniorPartneratPricewaterhouseCoopers.

“IFRS is a snowball gathering pace as practice increasingly adds to the formal requirements. Implementing IFRS GAAP is, therefore, a bigger challenge each day adoption is delayed. But once adopted, IFRS helps to expand horizons and brings global leverage to domestic efforts. The answer to the strategic question of whether to adopt is undoubtedly “yes”.”

Tatiana Krylova,HeadofEnterpriseBranch,DivisiononInvestmentandEnterpriseDevelopmentUnited Nations Conference on Trade and Development (UNCTAD)

TatianajoinedUNCTADin2000asChiefoftheAccountancySection.Hercurrentduties,amongothers,includecoordinationofactivitiesoftheUNIntergovernmentalWorkinggrouponInternationalAccountingandReporting,whichiscomprisedofregulators,privatestandardsetters,representativesofprofessionalorganizations,academicsandotherexpertsintheareaofaccountingandreportingofallUNmember

States.Thefocusofthegroup’sactivitieshasbeentoassistdevelopingandtransitionaleconomiesinimplementingbestpracticesintheareaofaccountingandreportinginaharmonizedwaybutconsideringcross-borderdifferences.

“Overthepastdecade,theIASBhasmadetremendousprogresstowardsestablishingIFRSasgloballyrecognizedhigh-qualitystandards.However,thefullbenefitsofIFRSwouldberealizedonlywhentheyareimplementedandenforcedinaconsistentmanneraroundtheworld.Inthisrespect,acollectiveeffortisneededtoassistdevelopingcountriesandcountrieswitheconomiesintransitioninstrengtheningtheirregulatory,institutionalandhumancapacitysothattheycanpromotehigh-qualitycorporatereportingintheirrespectivejurisdictions.”

Atsu Kato,ViceChairman,Accounting Standards Board of Japan

AtsuKatohashadanextensivecareerasapartneratvariouslargeauditfirmsinJapanandtheBigFourincludingPricewaterhouseCoopersforover30years.HehasalsoheldthetitleofRepresentativeDirectorandPresidentofControlSolutionsInternationalCo.Hewritesmanyarticlesonaccounting,IFRS,internalcontrolandauditingforaccountingmagazinesandhasheld/holdsthefollowingtitles:ExecutiveBoardMemberoftheJapaneseInstituteofCPA,ExtraordinaryMemberoftheBusinessAccountingDeliberation

CouncilofFinancialServicesAgencyinJapan,JapaneseRepresentativeoftheSteeringCommitteeonFinancialInstrumentsoftheInternationalAccountingStandardsCommitteeandBoardMemberoftheJapaneseAcademicResearchSocietyofAuditing.

“Concerning the challenges of convergence/adoption of IFRS from a Japanese perspective: in Japan, a voluntary application of IFRS was permitted to certain companies in 2010. In addition, it is expected that the Japanese government may make its decision about a plan and policies regarding the mandatory application of IFRS in Japan this year. In order to prepare for such a decision, The Accounting Standards Board of Japan (ASBJ) has been proceeding the convergence between Japanese accounting standards and IFRS for the last ten years. Through such convergence process, ASBJ has developed a very close and good relationship with IASB and FASB. These movements represent how important IFRSs are in the business community in Japan.”

Peter Casey,SeniorDirector,PolicyandStrategy,HeadofIslamicFinanceDubai Financial Services Authority

PeterCaseyjoinedtheDFSAin2002asDirectorofInsuranceandin2004hisresponsibilitieswereextendedtootherareaswiththeauthority.In2007,hewasappointedDirector,Policyandin2009healsobecameHeadofIslamicFinanceandhisresponsibilitieswerefurtherextendedtoincludeStrategy.BeforejoiningtheDFSA,PeterwasHeadoftheNon-LifeInsuranceDepartmentoftheUKFinancialServicesAuthority.Before

that,heheldseniorregulatorypostsintheTreasury,theDepartmentofTradeandIndustryandtheOfficeofFairTrading.HehaswideexperienceofUKGovernment,havingalsoservedintheCabinetOfficeandScienceResearchCouncil.

“Although Islamic finance is still a small percentage of the global financial system, it has been growing rapidly. There are some technical challenges in applying IFRS to it, in particular some of the structures used in Islamic banks and insurers. For example, what if any financial disclosures should be made in respect of the policyholders’ risk fund within a Takaful insurer? There are also issues of principle, about the relationship between form and substance in accounting. These become especially severe when instruments or transactions use several of the traditional Islamic contracts within a single structure. Some jurisdictions in the region have preferred the standards of the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) to IFRS for Islamic financial business. However, this raises issues of comparability, and consolidation for international groups. These are among the reasons that led the DFSA recently to consult on changing from AAOIFI standards to IFRS for such business.”

Abbas Ali Mirza,Partner, Deloitte,Chairman, 21st Session of ISAR/UNCTADChairman, Dubai Chamber of Commerce’s Auditors Group

AbbasAliMirzaisAuditPartnerwithDeloitte&Toucheandamemberofthefirm’sregionalIFRSleadershipteam.Hehasservedonseverallocalauditingandaccountingbodiesaschairmanoftheirtechnicalcommittees.AbbasisafrequentprincipalandkeynotespeakeratinternationalaccountingconferencesandhasaddressedmajorconferencesinternationallyincludingtheWorldCongressofAccountantsorganizedby

theInternationalFederationofAccountantsandhaschairedanddeliveredkeynoteaddressesattheWorldAccountingSummitfromitsinceptionin2005.HehasauthoredseveralbooksonIFRSandistheco-authoroftheWileybookseenhere.

“It appears that the concept of 'one globalized world – one set of accounting and financial reporting standards', is being echoed even in calls by powerful global economic blocs. The communiqué issued after the G20 Cannes Summit included a call on the International Accounting Standards Board and the Financial Accounting Standards Board (the US accounting standard setter), to complete their convergence project and report back by April 2012. The IASB has been working towards this goal and has promulgated new standards, issued and re-exposed exposure drafts on some highly contentious accounting issues and is working diligently towards finalizing and completing all parts of IFRS 9, its new standard on “Financial Instruments”. Such modifications to the existing set of international standards are expected to change the international financial reporting landscape in a dramatic manner when they are applied by entities using IFRS, in presenting their financial statements which will be used by investors and stakeholders of businesses around the world”.

7th – 10th May 2012 • Dusit Thani Hotel • Dubai • UAE

Presents

In partnership with United Nations Conference on Trade And Development (UNCTAD)

KeySpeakerProfiles

IFRS & Fair Values WorkshopPre-conferenceIFRSWorkshopA–7thMay2012

Ongoing Developments in IFRS WorkshopPost-conferenceIFRSWorkshopB–10thMay2012

International Public Sector Accounting Standards Workshop

Post-conferenceIFRSWorkshopC–10thMay2012

Tel: +971 4 335 2437 Fax: +971 4 335 2438 Email: register@iirme.com Web: www.iirme.com/accountingsummit Tel: +971 4 335 2437 Fax: +971 4 335 2438 Email: register@iirme.com Web: www.iirme.com/accountingsummit

Registration for Workshop C begins at 13.00. The Workshop begins at 13.30 and continues until 17.30 with a refreshment break.

TheworkshopcoverstheInternationalPublicSectorAccountingStandards(IPSAS);the‘IFRSforthepublicsector’.IPSAShavegainedsubstantialrelevanceoverthepastfewyearsasthedefactoworldwidestandardforpreparingfinancialstatementsofgovernments.

SeveralgovernmentsintheMiddleEastareintheprocessofimplementingIPSAS,orconsideringtodosointhenearfuture,includingAbuDhabi,Dubai,andKuwait.TheMinistryofFinanceoftheKingdomofSaudiArabiaandtheSaudiAuditBureaucommissionedastudytoevaluatetheSaudigovernment’scurrentfinancialreportingandtoanalyzetheimprovementsIPSASmightbring.ManygovernmentsaroundtheworldissueIPSAS-similarfinancialstatements,includingCanada,UnitedKingdom,Switzerland,AustraliaandNewZealand.

ThisworkshopwillexplainhowIPSASdifferfromInternationalFinancialReportingStandards(IFRS).ThemajorityofIPSASstandardsarebasedonIFRSstandards,sotherearesignificantareasofsimilaritybetweenIPSASstandardsandIFRSstandards.However,therearealsoimportantdeviationsfromtheIFRSstandards,withoutwhichIPSASstandardswouldnotaccountadequatelyforkeygovernmentaccountingissues.SomeIPSASstandardsaddresspublic-sectorspecificissuesandornotbasedonIFRS.

Workshop leader:Frans van Schaik,Partner,Deloitte,ProfessorofManagementAccounting,University of Amsterdam,FormerMemberInternational Public Sector Accounting Standards Board

ProfessorFransvanSchaikisanadvisorinIPSASimplementationtonationalgovernments,includingAbuDhabi,Kuwait,Romania,Kazakhstan, FijiIslands,TanzaniaandZambia,andinternationalpublicsectororganisations,includingUnitedNationsSystemorganizationsandNATO.HehasbeenamemberofInternationalPublicSectorAccountingStandardsBoard,theworldwidestandardsettingbodyforthefinancialreportingbygovernmentsandintergovernmentalorganizations,from2006throughto2011.

FransvanSchaikhasbeenanaccountingandauditingpartnerofDeloitteintheNetherlandssince1996.HeisacertifiedpublicaccountantandisaccreditedforIFRSconsultingandauditingbyDeloitte.HeisafullProfessorofManagementAccountingattheUniversityofAmsterdamandlecturedattheUniversityofTilburgandtheRoyalMilitaryAcademyintheNetherlands.Hehaspublishedover50articlesinthefieldofaccounting,decisionsupport,andauditing.

Registration for Workshop B begins at 08.00. The Workshop starts at 08.30 and runs until 12.30 with a refreshment break in between. Lunch is served at 12.30.

Thisworkshopcoversallaspectsoftheongoingdevelopmentsinthefinancialreportingofleases,financialinstrumentsandemployeebenefits.ItincludesexamplesandillustrationsofthelatestIASBrequirementsandtentativedecisionsrelatingto:

• Classificationofleases• Lessoraccountingforleases• Financialassetimpairmentdevelopments• Financialinstrumenthedgingproposals• AccountingforalltypesofemployeebenefitsinaccordancewithIAS19(revised)

Workshop leader:Steve Lawrence MSc FCCAFreelance presenter and lecturer

SteveLawrencehasbeenapresenterandlecturerforover25yearsduringwhichtimehehaspresentedtoprofessionalaudiencesandstudentsinseveralpartsoftheworld,includingLondon,Dubai,Jeddah,Doha,Cairo,Beijing,Mauritius,Rome,Madrid,Lisbon,IsleofMan,Moscow,Zagreb,andKualaLumpur.Beforebecomingaprofessionalpresenter,heworkedfor10yearsinvariousaccountingpositionsincommercialandindustrialorganisationsincludingPitneyBowesLtd,LongmansLtdandPrudentialAssurancePLC.HehasaMastersdegreefromtheLondonSchoolofEconomicsandPoliticalScience,andisaFellowoftheAssociationofCharteredCertifiedAccountants.Hehaspublishednumerousarticles,andistheauthoroftextbooksonInternationalAccountingandAdvancedFinancialAccounting.StevespecialisesinpresentingandlecturingonfinancialreportingbasedonInternationalFinancialReportingStandards,withparticularemphasisonthelatestdevelopmentsandproblemsofimplementationandanalysis.

StevehasbeenworkingwithIIRMiddleEastformanyyears,currentlyprovidingtwoofourcoreandhighlysuccessfulIFRStrainingprogrammes:

·IFRS–InternationalFinancialReportingStandards·IFRSforBanksandFinancialInstitutions

Registration for Workshop A begins at 08.30. The Workshop starts at 09.00 and runs until 13.00 with a refreshment break in between. Lunch is served at 13.00.

TheworkshopcoversalltheaspectsofFairValuationforIFRSincludingallthemajoraccountingstandards,itsimplicationsandinternationallyacceptedvaluationmethodologies.Itincludesthebasictheoryandlogicwithlivecasestudiestoillustratetheissues,covering:

• FairValueissuesinIFRS1–Firsttimeadoption• IFRS3–Businesscombinations• IAS36–Impairment• IAS39–FinancialInstrumentsandmarktomarket• IFRS13–Fairvaluemeasurements

Workshop leader:Rajeev R. ShahManagingDirector&ChiefExecutiveOfficerWorldVal RSBA

Rajeevhasworkedonnumerouscomplex,crossbordervaluationandfinancialreportingengagementswithmajormultinationalcorporationsacrossmorethan20countries.HehasworkedasamanagingpartnerofRBSAValuationAdvisorsLLP(formerlyknownasR.B.Shah&Associates)forthelast10years,mainlyinvolvedinvaluationsconsulting,investmentbanking&transactionadvisory,businessdevelopmentandmajorclientinteractions.

RBSAisIndia’slargestvaluationfirm,withateamofmorethan100professionalsacross6officesinIndia,andfurtherofficesinSingaporeandtheMiddleEast.RajeevalsoheadsthegroupcompanyRBSACapitalAdvisorsLLP,aSEBIRegisteredCategoryIMerchantBank.Heisinvolvedinallofthefollowingpractices:

·BusinessValuation–ValuationofEquity,Business,andIntangibleAssets·ValuationofFixedAssets–RealEstate,Plant&Machinery&IndustrialAssets·ValuationofInfrastructure&SpecializedAssets·ValuationofMines&MineralReserves·InvestmentBanking,Mergers&Acquisitions·TransactionAdvisory,DueDiligenceReviews&Advisory,Disinvestment&

Privatization·CorporateFinanceandAdvisory

Raise Your Company’s Profile In The Region And Position Yourself As A Leader In IFRS

The8th Annual World Accounting Summit Presents IFRS givesyouaplatformforatargetedmarketingapproachtopromotingyourcorporateimage,productsandservicesaswellascreatinggreatermarketawareness.Oursponsorshippackagesaredesignedtogiveyourbrandtargetedexposureandincreaseyourclientbasewithnetworkingopportunities. Contact Mark Butler on sponsorship@iirme.comor call +971 4 407 2516 for more details

12:15 Perspectives of Users of IFRS: Accurately portraying exposure to the Eurozone and other crisis – What are the accounting challenges in responding to these?•Whatarethelessonslearnedfromthebigfinancialfailuresofinternational/globalclients?•DuetopressurefromtheEU,istheBig4goingtosplit?CantheyjustifytheChineseWallsbetweenauditandconsultancy?

•Howhaveyoucontributedtothedevelopmentoftheprofession?•Whatandwhereareyourtargetmarketsintheshorttermandlongterm?•Deliveringgoodqualityauditingservicestoyourclient

Reyaz Mihuler,MESAHeadofIFRS,KPMG Austin Rudman,RegionalProfessionalPracticeDirectorfortheMENAregion,Ernst & Young

Moderated by: Kurt P. Ramin,DirectorandHeadofStandards, AccountAbility,FormerDirectorandAdvisor, IFRS Foundation at IASB

13:00 LunchandNetworkingBreak

14:15 CFO Panel: Key strategies to fundamentally change the direction of your organisation for the better and the role of IFRS•Whatarethe‘redflags’thatpeopleshouldbeawareofduringchallengingtimesandhowdoyouprepareyourorganisetofacethem?

•WhatarethekeybattlesthatneedtobefoughtbetweenCFOsandtheotherdecision-makersinyourorganizationsinregardstoIFRS?

•Whathaveyoulearnedandarecontinuingtolearnfromglobalfinancialcrisesandhowareyoupositioningyourorganizationasaresult?

• InadoptingIFRSwhathavethemostdifficultaspectsbeenandhowhaveyouovercomethem?

•Howtogetthemostoutofyourexternalauditor Rajesh Pareek,ChiefFinancialOfficer, DIFC – Dubai International Financial Centre

Sanjeev Agarwala,GroupChiefFinancialOfficer,Al Habtoor GroupR K Mehta,GroupChiefFinancialOfficer, Dhabi Group Arif Choksy,ChiefFinancialOfficer, Ducab

Nauman Asif Mian,ChiefFinancialOfficer, Bayt.com

15:00 Technical Update: Exposure Draft – Changes in Lease Accounting•Areviewofthegloballeasingmarketandcurrentleaseaccountingstandards•AstudyoftheIASB’sprojectagendaforleasing• In-depthanalysisoftheproposedaccountingforLesseeincludingthe“righttouse”assetandliabilities

• AnanalysisofthedifferingproposedaccountingforLessor Kurt P. Ramin,DirectorandHeadofStandards, AccountAbility,FormerDirectorandAdvisor,

IFRS Foundation at IASB (1997–2009)

15:30 AfternoonRefreshmentandNetworkingBreak

Day One – Condorsement and Standard-Setters Day 8thMay2012

08:55 WelcomeandOpeningremarksbySummitChairman Abbas Ali Mirza, Partner, Deloitte, Chairman, 21st Session of ISAR/UNCTAD, Chairman, Dubai Chamber of Commerce’s Auditors Group

09:00 Keynote presentation: The role of high quality and internationally comparable corporate reporting in economic development and investment facilitation

• Theneedforstrengtheningnationalregulatory,institutionalandhumancapacitytoensurefullbenefitsoftheIFRSimplementation

• Theimportanceofaconsistentandcoherentapproachtowardsreformingaccountingandreportingsystems,includingassessmentandmeasurementoftheprogressandidentifyingprioritiesforfurtheractions

•AnoutlineoftheUNCTAD/ISARprojectonimplementationandassessmentofaccountingreformstowardshighqualitycorporatereporting

Tatiana Krylova,HeadofEnterpriseBranch,DivisiononInvestmentandEnterpriseDevelopment,United Nations Conference on Trade and Development (UNCTAD)

09:30 Technical Update: The Package of 5• IFRS10:ConsolidatedFinancialStatements• IFRS11:JointArrangements• IFRS12:DisclosuresOfInterestsInOtherEntities• IAS27(Revised)• IAS28(Revised)

Abbas Ali Mirza,Partner, Deloitte,Chairman, 21st Session of ISAR/UNCTAD,Chairman, Dubai Chamber of Commerce’s Auditors Group

10:00 Technical Update: IAS 40 – Investment properties •Whatisinvestmentproperty?• Thebigaccountingpolicychoiceforinvestmentproperty•Subsequentmeasurementofinvestmentproperty• Transfersinandoutofinvestmentproperty• Fairvalueandotherpracticalissues

Reyaz Mihuler,MESAHeadofIFRS,KPMG

10:30 Technical Update: IFRS 13 – Fair Value Measurement – Understanding the one-stop-shop fair value standard •Analysingthekeyconceptsandmajorchangestoexistingfairvaluestandards•Understandingthetransitionalarrangementsformeasurementandcomparatives• Effectivelycheckingthedisclosurechanges• Identifyingactionplanstoimplementthechanges•ProvidinginformationtoengagestakeholdersRajeev R. Shah,ManagingDirector&ChiefExecutiveOfficer, WorldVal RSBA

11:00 MorningRefreshmentandNetworkingBreak

11:30 A presentation from the first private company to implement IFRS in the region: ArabsatLessons learnt from IFRS implementation in the Telecom sector• TheimportanceofIFRSintheTelecomsector• ThegrowingpainsoffirsttimeadoptionofIFRSinTelecomsector•AnoverviewoftheadaptionofthecriticalIFRSstotheTelecomsector:o Revenuerecognitiono Impairmentoffixesassetso Treatmentofleaseso Borrowingexpenseso Fairvalueadjustmentsforfinancialassets

Yousef M Al Dwikat,SeniorFinancialAuditor, Arabsat

16:00 Technical Update: Exposure Draft – Revenue Recognition •Analysingthefivestepmodel•Differencesfromcurrentpracticeandpotentialimpacts• Furtherclarificationoftheprinciplesforrecognisingrevenuefromcontracts

Wayne Upton,DirectorofInternationalActivities,ChairoftheIFRSInterpretationsCommittee,International Accounting Standards Board

12:00 Vertical Industry Masterclass Panel: IFRS adoption and the effects of the financial crisis in the Telecom sector• ThedisadvantagesandsideeffectsofIFRSimplementationinTelecomsectorandhowtobesthandlethem

• Thecriticalissuesinmiss-useofIFRS• Exploringbaddebtprovisionsandothercontingentprovisions•AccountingsoftwaredevelopersandIFRS

Wail I. Salman,GroupSeniorVicePresident–FinancialAccounting,Etisalat UAE Mousa Hamad,Finance&AdministrationManager, Globitel

Yousef M Al Dwikat,SeniorFinancialAuditor, Arabsat 12:45 Technical Update: IFRS 9 And IAS 39 – Financial instruments

•AnalysisofthebackgroundtoIFRS9• TheIFRS9modelforassetsandequityinstrumentsunderIFRS9•HowthingsaredifferenttoIAS39:Whatyouneedtoknow• Liabilitiesatfairvalueandtransitionprovisions

Yusuf Hassan,Partner,HeadofMESATechnical, KPMG

13:15 LunchandNetworkingBreak

14:30 Vertical Industry Masterclass Panel: Islamic Finance – Is IFRS capturing the Sharia-compliant instruments market?•DefiningtheproblemofusingIFRSinSharia-compliantinstruments•WhatareIFRSdoingaboutit?•WhatinroadshaveIFRSmadewithrelevantbodies,associationsandinstitutionstothiseffect?

Wayne Upton,DirectorofInternationalActivities,ChairoftheIFRSInterpretationsCommittee,International Accounting Standards Board Peter Casey,SeniorDirector,PolicyandStrategy,HeadofIslamicFinance,Dubai Financial Services Authority

15:15 Vertical Industry Masterclass presentation: The special features of the LNG industry and how to apply IFRS•RelatingIFRStohighdebt,lowequityprojectsthroughlongtermsupplycontracts,longtermpurchasecontractsandlinkedshippingcontracts

• Afocusontheleasesandfinancialinstrumentsaccountingissuesinthesector• AnoverviewofdeferredtaxintheLNGindustry• IFRSandsiterestorationexpensesandimpairmentofassets

Deepak Kumar Srivastava,FinancialController, Oman LNG LLC

15:45 AfternoonRefreshmentandNetworkingBreak

16:15 Vertical Industry Masterclass Panel: Public Sector•MergingInternationalPublicSectorAccountingStandardswithIFRS•Guidanceonissuesandexperiencesinfinancialreportinginthepublicsector•AnupdateonallnewconsultationpapersandexposuredraftsfromtheIPSASBKevin Stevenson,Chairman,Asian-Oceanian Standard-Setters Group,Chairman,Australian Accounting Standards BoardProf. Frans Van Schaik,ProfessorofManagementAccounting, University of Amsterdam,Member, International Public Sector Accounting Standards Board (IPSASB)

17:00 Technical Update: IAS 11 And IAS 18 – Construction, Revenue Recognition and Real Estate• Judgments:Howdoyouestimateyourrevenue?•Howcanyouprogresssuspendedprojects?• Theaccountancyforsettlingreceivableswithotherassets(bartering)•Conversionapproachesandtechnicalaccountingissuesforrealestate•SmoothingthetransitiontoIFRS

Cynthia Corby,AuditPartnerandConstructionLeader,Deloitte

17:45 Chairman’sClosingRemarksandCloseofWorldAccountingSummit

16:30 Critical Debate: IFRS 3 – Business Combinations: Combinations under common control•Whatisabusiness?•Determiningwhotheacquirerisandtheacquisitiondate•Recognitionandmeasurementonacquisition• Exploringtheroleofgoodwillincombinations• ThedifferentmethodsofaccountingforBCUCC:Thepredecessorbasisofaccountingandtheacquisitionmethod

17:00Chairman’sClosingRemarksandEndofWorldAccountingSummitDayOne

Day Two – Technical Updates and Vertical Industry Masterclasses 9thMay2012

08:15 RegistrationandMorningRefreshments

08:45 WelcomeandOpeningRemarksbySummitChairman Abbas Ali Mirza, Partner, Deloitte, Chairman, 21st Session of ISAR/UNCTAD, Chairman, Dubai Chamber of Commerce’s Auditors Group

08:50 Inaugural Address Atiq Juma Nasib, SeniorDirectorCommercialServices,Dubai Chamber of Commerce and Industry

09:00 International Keynote Address Wayne Upton,DirectorofInternationalActivities,ChairoftheIFRSInterpretationsCommittee,International Accounting Standards Board

09:20 Asian/Oceanic Keynote Address Kevin Stevenson,Chairman,Asian-Oceanian Standard-Setters Group,Chairman,Australian

Accounting Standards Board

09:40 Thematic and Regional Address Abbas Ali Mirza, Partner, Deloitte, Chairman, 21st Session of ISAR/UNCTAD, Chairman, Dubai Chamber of Commerce’s Auditors Group

10:00 Regulators Panel: How are reputators adapting to global crises and what are their resulting future plans for further condorsement with IFRS? • TheEurozonecrisisanditseffects:Whatarethesignificantissues?•Whatarethepracticalimpedimentsthatstandard-settersfaceingainingacceptanceoftheirstandards?

• Theprinciples-basedVstherules-basedapproach:Whatisyourpreference? Wayne Upton,DirectorofInternationalActivities,ChairoftheIFRSInterpretationsCommittee,

International Accounting Standards Board Kevin Stevenson,Chairman,Asian-Oceanian Standard-Setters Group,Chairman,Australian Accounting Standards Board

G Ramaswamy,BoardMember, The International Federation of Accountants Atsu Kato,ViceChairman, Accounting Standards Board of Japan SeniorRepresentative,Saudi Organisation For Certified Public Accountants

Tatiana Krylova,HeadofEnterpriseBranch,DivisiononInvestmentandEnterpriseDevelopment,United Nations Conference on Trade and Development (UNCTAD)

11:00 MorningRefreshmentandNetworkingBreak

11:30 Accounting Bodies Panel: What guidance and services have accounting bodies been providing to their members through challenging times?•HowdoyoukeepyourmembersupdatedregardingthelatestchangesinIFRSandwhataretheimpedimentstothis?

•ProgressinmutualrecognitionagreementsbetweenInstitutesandareanysignificantagreementsplannedforthenearfuture?

•Helpingmemberstobecomemoregloballyacceptedintermsoflicensing• IsthereapossibilityforaninternationalCPA/CAlicenseinthefuture?

Atsu Kato,ViceChairman, Accounting Standards Board of Japan G Ramaswamy,BoardMember, The International Federation of Accountants Rashid Rahman Mir,President, The Institute of Chartered Accountants of Pakistan

IFRS & Fair Values WorkshopPre-conferenceIFRSWorkshopA–7thMay2012

Ongoing Developments in IFRS WorkshopPost-conferenceIFRSWorkshopB–10thMay2012

International Public Sector Accounting Standards Workshop

Post-conferenceIFRSWorkshopC–10thMay2012

Tel: +971 4 335 2437 Fax: +971 4 335 2438 Email: register@iirme.com Web: www.iirme.com/accountingsummit Tel: +971 4 335 2437 Fax: +971 4 335 2438 Email: register@iirme.com Web: www.iirme.com/accountingsummit

Registration for Workshop C begins at 13.00. The Workshop begins at 13.30 and continues until 17.30 with a refreshment break.

TheworkshopcoverstheInternationalPublicSectorAccountingStandards(IPSAS);the‘IFRSforthepublicsector’.IPSAShavegainedsubstantialrelevanceoverthepastfewyearsasthedefactoworldwidestandardforpreparingfinancialstatementsofgovernments.

SeveralgovernmentsintheMiddleEastareintheprocessofimplementingIPSAS,orconsideringtodosointhenearfuture,includingAbuDhabi,Dubai,andKuwait.TheMinistryofFinanceoftheKingdomofSaudiArabiaandtheSaudiAuditBureaucommissionedastudytoevaluatetheSaudigovernment’scurrentfinancialreportingandtoanalyzetheimprovementsIPSASmightbring.ManygovernmentsaroundtheworldissueIPSAS-similarfinancialstatements,includingCanada,UnitedKingdom,Switzerland,AustraliaandNewZealand.

ThisworkshopwillexplainhowIPSASdifferfromInternationalFinancialReportingStandards(IFRS).ThemajorityofIPSASstandardsarebasedonIFRSstandards,sotherearesignificantareasofsimilaritybetweenIPSASstandardsandIFRSstandards.However,therearealsoimportantdeviationsfromtheIFRSstandards,withoutwhichIPSASstandardswouldnotaccountadequatelyforkeygovernmentaccountingissues.SomeIPSASstandardsaddresspublic-sectorspecificissuesandornotbasedonIFRS.

Workshop leader:Frans van Schaik,Partner,Deloitte,ProfessorofManagementAccounting,University of Amsterdam,FormerMemberInternational Public Sector Accounting Standards Board

ProfessorFransvanSchaikisanadvisorinIPSASimplementationtonationalgovernments,includingAbuDhabi,Kuwait,Romania,Kazakhstan, FijiIslands,TanzaniaandZambia,andinternationalpublicsectororganisations,includingUnitedNationsSystemorganizationsandNATO.HehasbeenamemberofInternationalPublicSectorAccountingStandardsBoard,theworldwidestandardsettingbodyforthefinancialreportingbygovernmentsandintergovernmentalorganizations,from2006throughto2011.

FransvanSchaikhasbeenanaccountingandauditingpartnerofDeloitteintheNetherlandssince1996.HeisacertifiedpublicaccountantandisaccreditedforIFRSconsultingandauditingbyDeloitte.HeisafullProfessorofManagementAccountingattheUniversityofAmsterdamandlecturedattheUniversityofTilburgandtheRoyalMilitaryAcademyintheNetherlands.Hehaspublishedover50articlesinthefieldofaccounting,decisionsupport,andauditing.

Registration for Workshop B begins at 08.00. The Workshop starts at 08.30 and runs until 12.30 with a refreshment break in between. Lunch is served at 12.30.

Thisworkshopcoversallaspectsoftheongoingdevelopmentsinthefinancialreportingofleases,financialinstrumentsandemployeebenefits.ItincludesexamplesandillustrationsofthelatestIASBrequirementsandtentativedecisionsrelatingto:

• Classificationofleases• Lessoraccountingforleases• Financialassetimpairmentdevelopments• Financialinstrumenthedgingproposals• AccountingforalltypesofemployeebenefitsinaccordancewithIAS19(revised)

Workshop leader:Steve Lawrence MSc FCCAFreelance presenter and lecturer

SteveLawrencehasbeenapresenterandlecturerforover25yearsduringwhichtimehehaspresentedtoprofessionalaudiencesandstudentsinseveralpartsoftheworld,includingLondon,Dubai,Jeddah,Doha,Cairo,Beijing,Mauritius,Rome,Madrid,Lisbon,IsleofMan,Moscow,Zagreb,andKualaLumpur.Beforebecomingaprofessionalpresenter,heworkedfor10yearsinvariousaccountingpositionsincommercialandindustrialorganisationsincludingPitneyBowesLtd,LongmansLtdandPrudentialAssurancePLC.HehasaMastersdegreefromtheLondonSchoolofEconomicsandPoliticalScience,andisaFellowoftheAssociationofCharteredCertifiedAccountants.Hehaspublishednumerousarticles,andistheauthoroftextbooksonInternationalAccountingandAdvancedFinancialAccounting.StevespecialisesinpresentingandlecturingonfinancialreportingbasedonInternationalFinancialReportingStandards,withparticularemphasisonthelatestdevelopmentsandproblemsofimplementationandanalysis.

StevehasbeenworkingwithIIRMiddleEastformanyyears,currentlyprovidingtwoofourcoreandhighlysuccessfulIFRStrainingprogrammes:

·IFRS–InternationalFinancialReportingStandards·IFRSforBanksandFinancialInstitutions

Registration for Workshop A begins at 08.30. The Workshop starts at 09.00 and runs until 13.00 with a refreshment break in between. Lunch is served at 13.00.

TheworkshopcoversalltheaspectsofFairValuationforIFRSincludingallthemajoraccountingstandards,itsimplicationsandinternationallyacceptedvaluationmethodologies.Itincludesthebasictheoryandlogicwithlivecasestudiestoillustratetheissues,covering:

• FairValueissuesinIFRS1–Firsttimeadoption• IFRS3–Businesscombinations• IAS36–Impairment• IAS39–FinancialInstrumentsandmarktomarket• IFRS13–Fairvaluemeasurements

Workshop leader:Rajeev R. ShahManagingDirector&ChiefExecutiveOfficerWorldVal RSBA

Rajeevhasworkedonnumerouscomplex,crossbordervaluationandfinancialreportingengagementswithmajormultinationalcorporationsacrossmorethan20countries.HehasworkedasamanagingpartnerofRBSAValuationAdvisorsLLP(formerlyknownasR.B.Shah&Associates)forthelast10years,mainlyinvolvedinvaluationsconsulting,investmentbanking&transactionadvisory,businessdevelopmentandmajorclientinteractions.

RBSAisIndia’slargestvaluationfirm,withateamofmorethan100professionalsacross6officesinIndia,andfurtherofficesinSingaporeandtheMiddleEast.RajeevalsoheadsthegroupcompanyRBSACapitalAdvisorsLLP,aSEBIRegisteredCategoryIMerchantBank.Heisinvolvedinallofthefollowingpractices:

·BusinessValuation–ValuationofEquity,Business,andIntangibleAssets·ValuationofFixedAssets–RealEstate,Plant&Machinery&IndustrialAssets·ValuationofInfrastructure&SpecializedAssets·ValuationofMines&MineralReserves·InvestmentBanking,Mergers&Acquisitions·TransactionAdvisory,DueDiligenceReviews&Advisory,Disinvestment&

Privatization·CorporateFinanceandAdvisory

Raise Your Company’s Profile In The Region And Position Yourself As A Leader In IFRS

The8th Annual World Accounting Summit Presents IFRS givesyouaplatformforatargetedmarketingapproachtopromotingyourcorporateimage,productsandservicesaswellascreatinggreatermarketawareness.Oursponsorshippackagesaredesignedtogiveyourbrandtargetedexposureandincreaseyourclientbasewithnetworkingopportunities. Contact Mark Butler on sponsorship@iirme.comor call +971 4 407 2516 for more details

12:15 Perspectives of Users of IFRS: Accurately portraying exposure to the Eurozone and other crisis – What are the accounting challenges in responding to these?•Whatarethelessonslearnedfromthebigfinancialfailuresofinternational/globalclients?•DuetopressurefromtheEU,istheBig4goingtosplit?CantheyjustifytheChineseWallsbetweenauditandconsultancy?

•Howhaveyoucontributedtothedevelopmentoftheprofession?•Whatandwhereareyourtargetmarketsintheshorttermandlongterm?•Deliveringgoodqualityauditingservicestoyourclient

Reyaz Mihuler,MESAHeadofIFRS,KPMG Austin Rudman,RegionalProfessionalPracticeDirectorfortheMENAregion,Ernst & Young

Moderated by: Kurt P. Ramin,DirectorandHeadofStandards, AccountAbility,FormerDirectorandAdvisor, IFRS Foundation at IASB

13:00 LunchandNetworkingBreak

14:15 CFO Panel: Key strategies to fundamentally change the direction of your organisation for the better and the role of IFRS•Whatarethe‘redflags’thatpeopleshouldbeawareofduringchallengingtimesandhowdoyouprepareyourorganisetofacethem?

•WhatarethekeybattlesthatneedtobefoughtbetweenCFOsandtheotherdecision-makersinyourorganizationsinregardstoIFRS?

•Whathaveyoulearnedandarecontinuingtolearnfromglobalfinancialcrisesandhowareyoupositioningyourorganizationasaresult?

• InadoptingIFRSwhathavethemostdifficultaspectsbeenandhowhaveyouovercomethem?

•Howtogetthemostoutofyourexternalauditor Rajesh Pareek,ChiefFinancialOfficer, DIFC – Dubai International Financial Centre

Sanjeev Agarwala,GroupChiefFinancialOfficer,Al Habtoor GroupR K Mehta,GroupChiefFinancialOfficer, Dhabi Group Arif Choksy,ChiefFinancialOfficer, Ducab

Nauman Asif Mian,ChiefFinancialOfficer, Bayt.com

15:00 Technical Update: Exposure Draft – Changes in Lease Accounting•Areviewofthegloballeasingmarketandcurrentleaseaccountingstandards•AstudyoftheIASB’sprojectagendaforleasing• In-depthanalysisoftheproposedaccountingforLesseeincludingthe“righttouse”assetandliabilities

• AnanalysisofthedifferingproposedaccountingforLessor Kurt P. Ramin,DirectorandHeadofStandards, AccountAbility,FormerDirectorandAdvisor,

IFRS Foundation at IASB (1997–2009)

15:30 AfternoonRefreshmentandNetworkingBreak

Day One – Condorsement and Standard-Setters Day 8thMay2012

08:55 WelcomeandOpeningremarksbySummitChairman Abbas Ali Mirza, Partner, Deloitte, Chairman, 21st Session of ISAR/UNCTAD, Chairman, Dubai Chamber of Commerce’s Auditors Group

09:00 Keynote presentation: The role of high quality and internationally comparable corporate reporting in economic development and investment facilitation

• Theneedforstrengtheningnationalregulatory,institutionalandhumancapacitytoensurefullbenefitsoftheIFRSimplementation

• Theimportanceofaconsistentandcoherentapproachtowardsreformingaccountingandreportingsystems,includingassessmentandmeasurementoftheprogressandidentifyingprioritiesforfurtheractions

•AnoutlineoftheUNCTAD/ISARprojectonimplementationandassessmentofaccountingreformstowardshighqualitycorporatereporting

Tatiana Krylova,HeadofEnterpriseBranch,DivisiononInvestmentandEnterpriseDevelopment,United Nations Conference on Trade and Development (UNCTAD)

09:30 Technical Update: The Package of 5• IFRS10:ConsolidatedFinancialStatements• IFRS11:JointArrangements• IFRS12:DisclosuresOfInterestsInOtherEntities• IAS27(Revised)• IAS28(Revised)

Abbas Ali Mirza,Partner, Deloitte,Chairman, 21st Session of ISAR/UNCTAD,Chairman, Dubai Chamber of Commerce’s Auditors Group

10:00 Technical Update: IAS 40 – Investment properties •Whatisinvestmentproperty?• Thebigaccountingpolicychoiceforinvestmentproperty•Subsequentmeasurementofinvestmentproperty• Transfersinandoutofinvestmentproperty• Fairvalueandotherpracticalissues

Reyaz Mihuler,MESAHeadofIFRS,KPMG

10:30 Technical Update: IFRS 13 – Fair Value Measurement – Understanding the one-stop-shop fair value standard •Analysingthekeyconceptsandmajorchangestoexistingfairvaluestandards•Understandingthetransitionalarrangementsformeasurementandcomparatives• Effectivelycheckingthedisclosurechanges• Identifyingactionplanstoimplementthechanges•ProvidinginformationtoengagestakeholdersRajeev R. Shah,ManagingDirector&ChiefExecutiveOfficer, WorldVal RSBA

11:00 MorningRefreshmentandNetworkingBreak

11:30 A presentation from the first private company to implement IFRS in the region: ArabsatLessons learnt from IFRS implementation in the Telecom sector• TheimportanceofIFRSintheTelecomsector• ThegrowingpainsoffirsttimeadoptionofIFRSinTelecomsector•AnoverviewoftheadaptionofthecriticalIFRSstotheTelecomsector:o Revenuerecognitiono Impairmentoffixesassetso Treatmentofleaseso Borrowingexpenseso Fairvalueadjustmentsforfinancialassets

Yousef M Al Dwikat,SeniorFinancialAuditor, Arabsat

16:00 Technical Update: Exposure Draft – Revenue Recognition •Analysingthefivestepmodel•Differencesfromcurrentpracticeandpotentialimpacts• Furtherclarificationoftheprinciplesforrecognisingrevenuefromcontracts

Wayne Upton,DirectorofInternationalActivities,ChairoftheIFRSInterpretationsCommittee,International Accounting Standards Board

12:00 Vertical Industry Masterclass Panel: IFRS adoption and the effects of the financial crisis in the Telecom sector• ThedisadvantagesandsideeffectsofIFRSimplementationinTelecomsectorandhowtobesthandlethem

• Thecriticalissuesinmiss-useofIFRS• Exploringbaddebtprovisionsandothercontingentprovisions•AccountingsoftwaredevelopersandIFRS

Wail I. Salman,GroupSeniorVicePresident–FinancialAccounting,Etisalat UAE Mousa Hamad,Finance&AdministrationManager, Globitel

Yousef M Al Dwikat,SeniorFinancialAuditor, Arabsat 12:45 Technical Update: IFRS 9 And IAS 39 – Financial instruments

•AnalysisofthebackgroundtoIFRS9• TheIFRS9modelforassetsandequityinstrumentsunderIFRS9•HowthingsaredifferenttoIAS39:Whatyouneedtoknow• Liabilitiesatfairvalueandtransitionprovisions

Yusuf Hassan,Partner,HeadofMESATechnical, KPMG

13:15 LunchandNetworkingBreak

14:30 Vertical Industry Masterclass Panel: Islamic Finance – Is IFRS capturing the Sharia-compliant instruments market?•DefiningtheproblemofusingIFRSinSharia-compliantinstruments•WhatareIFRSdoingaboutit?•WhatinroadshaveIFRSmadewithrelevantbodies,associationsandinstitutionstothiseffect?

Wayne Upton,DirectorofInternationalActivities,ChairoftheIFRSInterpretationsCommittee,International Accounting Standards Board Peter Casey,SeniorDirector,PolicyandStrategy,HeadofIslamicFinance,Dubai Financial Services Authority

15:15 Vertical Industry Masterclass presentation: The special features of the LNG industry and how to apply IFRS•RelatingIFRStohighdebt,lowequityprojectsthroughlongtermsupplycontracts,longtermpurchasecontractsandlinkedshippingcontracts

• Afocusontheleasesandfinancialinstrumentsaccountingissuesinthesector• AnoverviewofdeferredtaxintheLNGindustry• IFRSandsiterestorationexpensesandimpairmentofassets

Deepak Kumar Srivastava,FinancialController, Oman LNG LLC

15:45 AfternoonRefreshmentandNetworkingBreak

16:15 Vertical Industry Masterclass Panel: Public Sector•MergingInternationalPublicSectorAccountingStandardswithIFRS•Guidanceonissuesandexperiencesinfinancialreportinginthepublicsector•AnupdateonallnewconsultationpapersandexposuredraftsfromtheIPSASBKevin Stevenson,Chairman,Asian-Oceanian Standard-Setters Group,Chairman,Australian Accounting Standards BoardProf. Frans Van Schaik,ProfessorofManagementAccounting, University of Amsterdam,Member, International Public Sector Accounting Standards Board (IPSASB)

17:00 Technical Update: IAS 11 And IAS 18 – Construction, Revenue Recognition and Real Estate• Judgments:Howdoyouestimateyourrevenue?•Howcanyouprogresssuspendedprojects?• Theaccountancyforsettlingreceivableswithotherassets(bartering)•Conversionapproachesandtechnicalaccountingissuesforrealestate•SmoothingthetransitiontoIFRS

Cynthia Corby,AuditPartnerandConstructionLeader,Deloitte

17:45 Chairman’sClosingRemarksandCloseofWorldAccountingSummit

16:30 Critical Debate: IFRS 3 – Business Combinations: Combinations under common control•Whatisabusiness?•Determiningwhotheacquirerisandtheacquisitiondate•Recognitionandmeasurementonacquisition• Exploringtheroleofgoodwillincombinations• ThedifferentmethodsofaccountingforBCUCC:Thepredecessorbasisofaccountingandtheacquisitionmethod

17:00Chairman’sClosingRemarksandEndofWorldAccountingSummitDayOne

Day Two – Technical Updates and Vertical Industry Masterclasses 9thMay2012

08:15 RegistrationandMorningRefreshments

08:45 WelcomeandOpeningRemarksbySummitChairman Abbas Ali Mirza, Partner, Deloitte, Chairman, 21st Session of ISAR/UNCTAD, Chairman, Dubai Chamber of Commerce’s Auditors Group

08:50 Inaugural Address Proposed Speaker: ArepresentativeofDubai Chamber of Commerce and Industry

09:00 International Keynote Address Wayne Upton,DirectorofInternationalActivities,ChairoftheIFRSInterpretationsCommittee,International Accounting Standards Board

09:20 Asian/Oceanic Keynote Address Kevin Stevenson,Chairman,Asian-Oceanian Standard-Setters Group,Chairman,Australian

Accounting Standards Board

09:40 Thematic and Regional Address Abbas Ali Mirza, Partner, Deloitte, Chairman, 21st Session of ISAR/UNCTAD, Chairman, Dubai Chamber of Commerce’s Auditors Group

10:00 Regulators Panel: How are reputators adapting to global crises and what are their resulting future plans for further condorsement with IFRS? • TheEurozonecrisisanditseffects:Whatarethesignificantissues?•Whatarethepracticalimpedimentsthatstandard-settersfaceingainingacceptanceoftheirstandards?

• Theprinciples-basedVstherules-basedapproach:Whatisyourpreference? Wayne Upton,DirectorofInternationalActivities,ChairoftheIFRSInterpretationsCommittee,

International Accounting Standards Board Kevin Stevenson,Chairman,Asian-Oceanian Standard-Setters Group,Chairman,Australian Accounting Standards Board

G Ramaswamy,BoardMember, The International Federation of Accountants Atsu Kato,ViceChairman, Accounting Standards Board of Japan SeniorRepresentative,Saudi Organisation For Certified Public Accountants

Tatiana Krylova,HeadofEnterpriseBranch,DivisiononInvestmentandEnterpriseDevelopment,United Nations Conference on Trade and Development (UNCTAD)

11:00 MorningRefreshmentandNetworkingBreak

11:30 Accounting Bodies Panel: What guidance and services have accounting bodies been providing to their members through challenging times?•HowdoyoukeepyourmembersupdatedregardingthelatestchangesinIFRSandwhataretheimpedimentstothis?

•ProgressinmutualrecognitionagreementsbetweenInstitutesandareanysignificantagreementsplannedforthenearfuture?

•Helpingmemberstobecomemoregloballyacceptedintermsoflicensing• IsthereapossibilityforaninternationalCPA/CAlicenseinthefuture?

Atsu Kato,ViceChairman, Accounting Standards Board of Japan G Ramaswamy,BoardMember, The International Federation of Accountants Rashid Rahman Mir,President, The Institute of Chartered Accountants of Pakistan

7th – 10th May 2012 • Dusit Thani Hotel • Dubai, UAE

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Presents

In partnership with United Nations Conference on Trade And Development (UNCTAD)

Please the session/s you wish to attend: Monday 7th May 2012 Tuesday 8th May 2012 & Wednesday 9th May Thursday 10th May 2012

Pre Conference Workshop Conference Post Conference Workshops B & C

B – am C – pm