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Executive IFRS Workshop for Regulators
37 J une 2013, Diplomatic Academy of Vienna
The World Bank Centre for Financial Reporting Reform (CFRR) and theIFRS Foundation are jointly organizing a five-day workshop on the use of InternationalFinancial Reporting Standards (IFRS) by financial regulators. This workshop is designed forsenior staff of regulatory agencies responsible for supervising banks, insurance companiesand securities exchanges and those in charge of accounting and prudential regulations inCentral and Eastern Europe.
Its primary objective is to enhance participants understanding of current andupcoming IFRS and related prudential requirements by providing them with tools to enhancethe effectiveness of regulation. During this workshop, participants will: (i) gain a betterunderstanding of the judgments and estimates in applying IFRS with a particular focus on
the current IFRS for financial instruments and insurance contracts, (ii) be updated on thechanges stemming from the International Accounting Standards Boards (IASB) project toreplace IAS 39 Financial Instruments Recognition and Measurementwith IFRS 9 FinancialInstruments and its project to replace IFRS 4 Insurance Contracts with a comprehensiveStandard for accounting and reporting insurance contracts; and (iii) explore how the reviewof financial statements prepared using IFRS can help them to carry out supervisory duties.
The program features technical sessions led by three IASB Board Members, PhilippeDanjou, Amaro Gomes and Darrel Scott, and a number of the IASBs technical staffincluding the Director for its Education Initiative, Michael Wells, the European Commission(EC) and selected regulators and market participants. It also covers enforcement of IFRS bythe EC and other aspects related to the application of IFRS by national regulators andfinancial institutions.
The Basel Committee for Banking Supervision published in December 2010 a set ofmeasures to improve the prudential regulation of banks commonly referred to as Basel III.These measures will be phased in from 2013 and will become fully binding in 2019. Inparallel, the EU adopted the Solvency II Directive in November 2009. Solvency II wasdeveloped in close collaboration with the European Insurance and Occupational PensionsAuthority (EIOPA) and its date of entry into force will be set by the Omnibus II Directive. Allbanks and insurance companies in the EU will have to comply with these directives orregulations in addition to applicable financial reporting requirements. Thus, banking andinsurance supervisors need to develop their capacity to use IFRS-based financial
information for enhanced monitoring and supervision.
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Introduction to the Workshop, Reporting Requirements Used by Participants, and theConcepts Underpinning IFRS
08:00 Registration and Welcome Coffee
09:00 Welcome Remarks
Samia Msadek, Director, Europe and Central Asia Operational Services and Quality unit, World Bank
Henri Fortin, Head, Centre for Financial Reporting Reform, World Bank
09:30 Reporting Requirements in Participants Countri es
Pascal Frrejacque, Senior Operations Officer, Centre for Financial Reporting Reform, World Bank
Johanna Lincoln, Consultant, Centre for Financial Reporting Reform, World Bank
Objective: Understand: 1) other participants reporting requirements; and 2) extent to which IFRS are used(or are planned to be used) by other participants.
10:00 Importance of Financial Reporting for Regulatory Matters
Martn Vzquez Surez, Senior Financial Sector Specialist, World Bank
Objective: Explain why financial reporting matters and why financial statements should be reviewed todischarge supervisory duties.
11:00 Coffee Break
11:30 The IASBs Conceptual Framework
Michael Wells, Director, IFRS Education Initiative, IASB
Objective: Understand: 1) the objective of IFRS financial reporting; 2) how the IASB thinks; and 3) howentities account for a transaction when there is no specific IFRS requirement for a particular transaction.
13:00 Lunch
Understanding IFRS Judgments and Estimates
14:00 Case Study: Judgments When There Is No Specific IFRS Requirement
Michael Wells, Director, IFRS Education Initiative, IASB
Objective: Understand the judgments made when accounting for a transaction for which there is no specificIFRS requirement.
14:45 Case Study: Non-financial Assets (NFAs)
Michael Wells, Director, IFRS Education Initiative, IASB
Objective: Understand the judgments to: 1) identify NFAs, 2) classify NFAs, and 3) calculate estimates toaccount for NFAs.
15:30 Coffee Break
16:00 Case Study : NFAs - Continued
Michael Wells, Director, IFRS Education Initiative, IASB
17:00 Grand Danube River Cruise (incl. Dinner)
19:30 End of Day 1
Monday 3 June 2013 - Day 1
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Understanding IFRS Judgments and Estimates
9:00 IFRS Enforcement Issues
David Grnberger, Head, Accounting & Regulatory Monitoring, Austrian Financial Market Authority (FMA)
Objective: Learn the FMAs challenges in monitoring financial statements and its role in enforcing IFRSstarting from 1 July 2013.
9:45 Regulating Entities Filing IFRS Financial Statements: A Former Bank Regulators Experience
Amaro Gomes, Board Member, IASB
Objective: Learn from the experience of former bank regulator at the Central Bank of Brazil.
10:30 Coffee Break
11:00 Case Study: Liabili ties
Amaro Gomes, Board Member, IASBMichael Wells, Director, IFRS Education Initiative, IASB
Objective: Understand the judgments to: 1) Identify liabilities, 2) classify liabilities, and 3) make estimatesto account for liabilities.
12:30 Lunch
Update on New IFRS Requirements
14:00 IFRS Update: IFRS 13 Fair Value Measurement
Mariela Isern, Senior Technical Manager, IASB
Chris Spall, Partner, KPMGObjective: Understand: 1) the fair value measurement objective, 2) brief summary of IFRS 13, and 3) fairvalue in IFRS.
14:45 Case Study: Fair Value Measurement
Mariela Isern, Senior Technical Manager, IASB
Chris Spall, Partner, KPMG
Objective: Understand the judgments and estimates to measure the fair value of financial instruments inaccordance with IFRS 13.
15:30 Coffee Break
16:00 IFRS Update: IFRS 10 Consolidated Financial Statements (Including Investment Entities),IFRS 11 Joint Arrangementsand IFRS 12 Disclosure of Interests in Other Entities
Mariela Isern, Senior Technical Manager, IASB
Amaro Gomes, Board Member, IASB
Objective: Understand: 1) the main changes from previous IFRS, 2) the main principles in new IFRS, and3) the main judgments in applying the new IFRS principles.
17:30 End of Day 2
Tuesday 4 June 2013 - Day 2
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Accounting for Financial Instruments in Accordance wi th IFRS Appl icable on1/1/2013 without Early Adoption
9:00 Study of Non-performing Loans across EuropeStephan Barisitz, Senior Economist, Oesterreichische Nationalbank
Objective: Review the definitions of non-performing loans from a regulatory perspective across Europe.
9:45Regulating Entities Filing IFRS Financial Statements: A former Securities RegulatorsExperience
Philippe Danjou, Board Member, IASB
Objective: Learn from the experience of former securities regulator of entities filing IFRS financialstatements.
10:30 Coffee Break
11:00 Accounting for Financial Inst ruments in Accordance wi th IAS 39(Including Quiz and Discussion)
Darrel Scott, Board Member, IASB
Objective: Understand: 1) the main requirements of IAS 39, and 2) the main judgments in applying IAS 39.
12:30 Lunch
Presenting and Disclosing Financial Instruments in Accordance with IFRS
14:00Presenting and Disclosing Financial Instruments in Accordance with IAS 32 and IFRS 7(Including Quiz and Discussion)
Philippe Danjou, Board Member, IASB
Objective: Understand: 1) the main principles and judgments in presenting financial instruments inaccordance with IAS 32, and 2) disclosing financial instruments in accordance with IFRS 7.
15:30 Coffee Break
Case Studies: Accounting for Financial Instruments in Accordance with IFRSAppl icable on 1/1/2013 without Early Adoption
16:00 Case Study: Classify ing Financial Instruments in Accordance wit h IAS 32
Philippe Danjou, Board Member, IASB
Objective: Understand the judgments and estimates to present financial instruments in accordance withIAS 32.
16:45 Case Study: Hedge Accounting in Accordance with IAS 39
Darrel Scott, Board Member, IASB
Objective: Understand the judgments and estimates when hedge accounting applies in accordance withIAS 39.
17:30 End of Day 3
Wednesday 5 June 2013 - Day 3
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IASBs Project to Improve Accoun ting for Financial Instruments: IFRS 9, ActiveProjects and CRD IV
9:00 New Reporting Requirements: CRD IV and the RegulationErik van der Plaats, Senior Policy Officer, Financial Institutions Unit, DG Markt, European Commission
Objective: Enhance understanding of CRD IV and new reporting requirements.
9:45 Reconciling IFRS Financial Reporting with Regulatory Filings - A former CFOs Experience
Darrel Scott, Board Member, IASB
Objective: Learn from a former CFOs experience in reconciling financial reporting with regulatory filings.
10:30 Coffee Break
11:00Accounting for Financial Inst ruments in Accordance wi th IFRS 9 (Inc luding Quiz and
Discussion)Darrel Scott, Board Member, IASB
Objective: Understand the main: 1) changes from IAS 39, 2) principles underpinning IFRS 9, and 3)judgments in applying IFRS 9.
12:30 Lunch
IASBs Project to Improve Accounting for Financial Instruments
14:00IASBs Project to Replace IAS 39 Impairment of Financial Assets (Including Quiz andDiscussion)
Darrel Scott, Board Member, IASB
Objective: Understand: 1) the main changes from IAS 39 being developed/proposed, 2) the main principlesin the new requirements being developed/proposed, and 3) the main judgments that would be necessary toapply these requirements being developed/proposed.
15:30 Coffee Break
16:00 New General Hedge Accounting Requirements (Including Mini Case Study)
Darrel Scott, Board Member, IASB
Objective: Understand: 1) the main changes from the 'old' requirements, 2) the main new 'principles', and3) the main judgments in applying the new requirements.
16:45 IASBs Project to Replace IAS 39 Macro Hedging
Darrel Scott, Board Member, IASB
Objective: Update the participants with the IASBs progress on macro-hedging.
17:30 Closing on Financial Instruments and Banking
Pascal Frrejacque, Senior Operations Officer, World Bank
Objective: Understand further needs on banking issues in terms of IFRS training and get feedback.
18:00 End of Day 4
End on Financial Instruments and Banking
Thursday 6 June 2013 - Day 4
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Special Session for Insurance Regulators
Recent Developments in Accounting and Regulatory Reporting for the InsuranceSector
9:00 Experience Sharing on the Implementation of Solvency 2 and Linkages with IFRS
Christoph Krischanitz, Chairman, Investment and Financial Risk Committee of the Groupe ConsultatifActuariel Europen (GC); President, Actuarial Association of Austria (AV) and Member, AustrianFinancial Reporting and Auditing Committee (AFRAC); Managing Director, Arithmetica
Werner Matula, Chief Actuary, Vienna Insurance Group (VIG); Managing Director, Arithmetica
Objective: Learn challenges and opportunities of implementing IFRS and Solvency II framework in aninternational insurance group.
9:45 Accounting for Insurance Contracts in Accordance with IFRS 4
Darrel Scott, Board Member, IASB
Andrea Pryde, Technical Principal, IASB
Objective: Enhance understanding of main principles, judgments and estimates in accounting for insurancecontracts under IFRS 4.
10:30 Coffee Break
11:00 IASBs Insurance Contracts Project
Darrel Scott, Board Member, IASB
Andrea Pryde, Technical Principal, IASB
Objective: Enhance understanding of the main: 1) proposed changes from the old IFRS 4, 2) principlesunderpinning the proposal for the Insurance Contracts project, and 3) judgments and estimates that would
be necessary in applying the new principles.
12:00 Closing of Workshop
Pascal Frrejacque, Senior Operations Officer, World Bank
Objective: Understand further needs on insurance issues in terms of IFRS training and get feedback.
12:30 Lunch
End on Insurance Contracts and Insurance
Friday 7 June 2013 - Day 5
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Venue
DiplomaticAcademyofViennaFavoritenstrasse15a
1040Wien,Austria
UndergroundLine:U1,Station:Taubstummengasse
HotelJohannStrauFavoritenstrasse12
1040Wien,Austria
HotelDasTriestWiednerHauptstrasse12
1040Wien,Austria
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Bios of the Speakers
Stephan Barisitz
SeniorEconomist,OesterreichischeNationalbankStephan
Barisitz
is
Senior
Economist
in
the
Foreign
Research
Division
of
the
OesterreichischeNationalbank.HejoinedtheOeNBinDec1998andfocuseson
country researchandmonitoringofRussia,CIS,SouthEasternEurope,aswellason
bankingandfinancialsectoranalysis.In2008,Stephanpassedhishabilitationexam(Privatdozent)in
economichistoryattheViennaUniversityofEconomicsandBusiness(WUWien).Hishabilitation
thesisdealswithbankingtransformationinCentralandEasternEuropeinthelastthreedecades.He
hassincehasbeenlecturerattheInstituteforEconomicandSocialHistory.
BeforecomingbacktoViennain1998,StephanworkedforthreeyearsasaneconomistattheOECD
inParis,where,togetherwithacolleague,haswasinchargeoftheRussiaCISBulgariaDeskofthe
OECDEconomicsDepartment.Beforethathewasfrom1992to1995withtheAustrianInstitutefor
Eastand
South
East
European
Studies
(OSI),
Vienna,
responsible
for
economic
research
and
editing
ofInstitutepublications.StephanstartedouthiscareerasaneconomistattheViennaInstitutefor
ComparativeEconomicStudies(wiiw)in1986.StephanhadstudiedeconomicsattheUniversityof
Innsbruck,Austria,and,afteraresearchstayatCarletonUniversity,Ottawa,passedhisdoctorate
thesameyear.
Philippe Danjou
BoardMember,IASBUntilhisappointmenthewasthedirectoroftheaccountingdivisionoftheAutorit
desMarchsFinanciers(AMF),theFrenchsecuritiesregulator.Hegraduatedfrom
HEC,thenqualifiedasaCharteredAccountantandRegisteredStatutoryAuditor,and
joinedArthurAndersen&Co.(Paris)in1970.
AtArthurAndersen,Mr.Danjouultimatelybecameanauditpartner.HewasalsoExecutiveDirector
oftheFrenchOrdredesExpertsComptables(OEC)from1982until1986.
Mr.DanjouwasamemberoftheInternationalAuditingPracticesCommitteeandatechnicaladviser
totheFrenchdelegatetotheformerInternationalAccountingStandardsCommittee,the
predecessortotheIASB.
WhileattheAMFheservedontheIASB'sStandardsAdvisoryCouncil,asanobserveratthe
Committeeon
Auditing
of
the
European
Commission,
as
amember
of
IOSCO's
Standing
Committee
1
onMultinationalAccountingandDisclosure,andtheFinancialReportingCommitteeofthe
CommitteeofEuropeanSecuritiesRegulators(CESRFin).
In2006,hewasappointedchairmanoftheEuropeanEnforcersCoordinationSessionscreatedby
CESRFintohelpfosterconsistentenforcementbyregulatorsofIFRSbasedfinancialstatements.
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Henri Fortin
Head,CentreforFinancialReportingReform,WorldBankMrFortinistheHeadoftheWorldBankViennaCentreforFinancialReportingReform(CFRR) since January 2011. Between 2003 and 2010, he led the World BanksanalyticalandadvisoryactivitiesincorporatefinancialreportingfortheLatinAmerica
and Caribbean (LAC) Region. His responsibilities included in particular (i) the preparation of ROSCreportsonAccountingandAuditing,(ii)anumberoftechnicalassistanceprojectstoassistpartnercountries in implementing ROSC recommendations and (iii) the CReCER (Spanish acronym forAccounting and Accountability for Regional Economic Growth) initiative in cooperation withinternational standardsetters, the accounting profession and key development partners. He alsoparticipated inanumberofFinancialSectorAssessmentProgrammissionsandworkedonprojectsrelatedtopublicfinancialmanagementandgovernanceofstateownedenterprises.
MrFortinalsorepresentedtheWorldBankontheInternationalAccountingStandardsBoardsSMEworkinggroupwhichassistedthe IASB indevelopingglobal financialreportingstandards forsmallentities,the IFRSofSMEs. Hecurrentlyrepresents theBankonthe IFRSofSMEs ImplementationGroup.
Beforejoining the World Bank in 2003, Mr Fortinwas directeur associ in the auditandbusinessadvisorydivisionofBarbierFrinault,theFrenchpracticeofArthurAndersen,whichhehadjoinedinMarch 1991. Prior to that he was a deputy commercial attach at the French Embassy in Brazil(19891990). He has M.Sc. in management from HEC Paris (1989) and the Diplme dEtudesSuprieuresComptablesetFinanciresissuedbytheMinistryofEducationofFrance.
Pascal FrrejacqueSenior
Operations
Officer,
Centre
for
Financial
Reporting
Reform,
World
Bank
PascalhasledAccountingandAuditingReportontheObservanceofStandardsand
Codesassessmentsinanumberofcountriesandadvisesgovernmentsonthedesign
andimplementationofcorporatefinancialreportingreforms.
HebringstotheBankmorethan20yearsofinternationalexperienceinaccountingandauditingin
thebankingsector,havingworkedattheIMFandinternationalaccountingfirms.Asaformeraudit
leadmanagerforlargebankinggroupsandhavingmanagedcorporatefinanceassignmentsatArthur
AndersenandErnst&Young,Pascalhasanindepthunderstandingofthefinancialsector.He
startedhiscareerworkingforaprivateconsultancy,conductingvaluationandM&Aduediligences
forlargecorporations.
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Amaro Luiz de Oliveira GomesBoardMember,IASBAmaroLuizdeOliveiraGomes,formerHeadofFinancialSystemRegulation
DepartmentoftheCentralBankofBrazil,joinedtheIASBasafulltimememberon
1July2009forafiveyearterm.
AsaseniorofficialattheCentralBankofBrazil,Mr.Gomesplayedaleadingroleintheadoptionof
InternationalFinancialReportingStandards(IFRS)inBrazil.AttheCentralBankofBrazil,heoversaw
theintroductionofIFRSforregulatedfinancialinstitutions.Hehasalsoservedasamemberofthe
twobodiesplayingtheleadingroleinintroducingIFRSintoBraziltheBrazilianComitde
PronunciamentosContbeis(CPC)andtheSteeringCommitteeforAccountingConvergenceBrazil
(ComitGestordaConvergncianoBrasil)createdbytheBrazilianFederalAccountingCouncil
(ConselhoFederaldeContabilidade).
Mr.Gomeshasinthepastbeenanactiveparticipantineffortsaimedatinternationalregulatory
cooperation.HeservedontheAccountingTaskForceoftheBaselCommitteeonBanking
Supervision.HealsorepresentedtheCentralBankofBrazilintheMERCOSURSubGroupIV
FinancialServicesIntegration,ascoordinatoroftheCommissiononFinancialServicesandtheSub
CommissiononAccountingIssues;andfrom1999to2003wastherepresentativeinthe
IntergovernmentalWorkingGroupofExpertsonInternationalStandardsofAccountingand
Reporting(ISAR),undertheauspicesoftheUNO/UNCTAD.
Inhiscareerasafinancialsystemregulator,Mr.Gomeswasdirectlyinvolvedintheconvergenceof
Brazilianprudentialregulationwithinternationalstandardsandbestpractices,suchasthe
implementationofthe25CorePrinciplesforEffectiveBankingSupervisionandBaselII.Inthisrole
heparticipatedinseveralregulationandpolicyforums,includingthePolicyDevelopmentGroup
(PDG)oftheBaselCommitteeonBankingSupervision,representingtheAssociationofSupervisorsof
Banks
of
the
Americas
(ASBA).
David Grnberger
Head,Accounting&RegulatoryMonitoring,AustrianFinancialMarketAuthority(FMA)Dr.DavidGrnbergerleadstheteamforaccountingandIFRSenforcementinthe
AustrianFinancialMarketAuthorityinVienna.Hefocusesonthefinancialreportingof
listed
companies
and
banking
regulation.
HeholdsaUSCPAlicense,teachesattheViennaUniversityofEconomicsandpublishedmanybooks
andpapersoncurrentaccountingtopics.
HerepresentstheFMAintheEuropeanEnforcementCoordinationSessionsatESMAandthe
EuropeanAccountingRegulatoryCommitteeattheEuropeanCommission.
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Mariela Isern
SeniorTechnicalManager,IASBMarielajoinedtheIASBasaTechnicalManagerinDecember2007.Shehasworkedon
theJointVenturesprojectwhichledtothepublicationofthestandardIFRS11JointArrangementsinMay2011.SincethenshehasbeeninvolvedintheFairValue
Measurementproject.
Mariela
was
employed
previously
by
KPMG
Spain
where
she
worked
in
the
auditpracticeforsevenyears,includingtwoyearsintheUSwhereshebecameaCertifiedPublic
Accountant.Morerecently,sheworkedasaFinancialAccountantinthegroupreportingdepartment
ofVodafoneandasaFinancialAnalystattheRoyalBankofScotland.
MarielaholdsabachelorsdegreeinBusinessAdministrationfromtheUniversidadPompeuFabrain
BarcelonaandaMastersinFinancefromtheLondonBusinessSchool.
Christoph Krischanitz
Chairman,InvestmentandFinancialRiskCommitteeoftheGroupeConsultatifActuarielEuropen(GC);President,ActuarialAssociationofAustria(AV);Member,AustrianFinancialReportingandAuditingCommittee(AFRAC;andManagingDirector,Arithmetica
SinceJune2002,ChristophKrischanitzistheManagingDirectoroftheArithmeticaVersicherungs
undfinanzmathematischeBeratungsGmbHinVienna.Mr.Krischanitzgraduatedwithadegreein
mathematicsfromtheUniversityofViennaandsince2000heisafullMemberActuaryofthe
ActuarialAssociation
of
Austria
(AV).
SinceMay2008,heservesasthePresidentoftheAVandsinceOctober2011heistheChairmanof
theInvestmentandFinancialRiskCommitteeoftheGroupeConsultatifActuarielEuropen
(EuropeanAssociationoftheActuarialProfession),furthermoreheisadelegatetoseveral
committeesoftheInternationalActuarialAssociation(IAA).
InAustria,Mr.KrischanitzchairsthemathematischstatistischeKomiteeandtheStresstest
WorkingGroupoftheAustrianInsuranceAssociation(VVO).HeisalsoaLecturerfortheactuarial
scienceattheTechnicalUniversityofVienna,theUniversityofAppliedSciencesBFIVienna,theWU
ExecutiveAcademyandtheEuropeanActuarialAcademy(EAA).SinceJanuary2005,Mr.Krischanitz
isaMemberoftheAustrianFinancialReportingandAuditingCommittee(AFRAC)andfrom2005to
2008hewasaMemberoftheEuropeanFinancialReportingAdvisoryGroup(EFRAG)WorkingGroup
PensionsAccounting.
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Johanna Lincoln
Consultant,CentreforFinancialReportingReform,WorldBankMs.JohannaLincolnjoinedtheWorldBankinViennaasaConsultant. Priortojoining
theWorldBank,JohannaworkedasanInvestmentBankeratHSBCGlobalBankingand
Marketsonvariousequityanddebtcapitalmarkettransactionsandstrategic
alternatives.Prior
to
that,
Johanna
worked
as
an
Actuarial
Associate
with
Towers
Perrin
in
London
wheresheperformedpensionvaluationsandadvisedFTSE100companiesontheirpensionand
benefitschemes.
JohannareceivedaMasterinFinancewithMeritfromtheLondonSchoolofEconomics.Inaddition,
sheholdsaMasterinEconomicsandManagementfromtheUniversitParisDauphine.Johannaisa
LicensedInvestmentProfessionalbytheFrenchFinancialMarketAuthorityandcurrentlya
CandidatefortheLevel3oftheCharteredFinancialAnalyst(CFA)program.
Werner Matula
ChiefActuaryofViennaInsuranceGroup;ManagingDirector,ArithmeticaAftergraduatingActuarialandFinancialMathematicsandathreeyearscientific
engagementattheViennaUniversityofTechnology,Mr.WernerMatulajoinedthe
ViennaInsuranceGroupin2005asanActuary.In2007,Mr.Matulawasdelegatedto
oneofthegroup'sRomaniansubsidiaries,takingcareofthelifeinsuranceactuarialwork.
Mr.MatulaisfullqualifiedmemberoftheAustrianActuarialAssociation(AV)andManaging
Directorof
Arithmetica
Versicherungs
und
finanzmathematische
Beratungs
GmbH
in
Vienna.
Since2010,WerneristheChiefActuaryoftheViennaInsuranceGroup,mainlyresponsibleforthe
EmbeddedValuereporting,actuarialcontrolling,performancemanagement,Solvency2,mergers&
acquisitionsandthegroup'sactuarialnetwork.
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Andrea Pryde
TechnicalPrincipal,IASBAndreaPrydeisaTechnicalPrincipalattheInternationalAccountingStandardsBoard
(IASB),theprivatesectorindependentbodyresponsiblefordevelopingasinglesetof
highquality
International
Financial
Reporting
Standards
(IFRS)
for
use
throughout
the
world.
AndrealeadstheIASB'sprojectoninsurancecontracts.Shehasabroadrangeofstandardsetting
experience,havingjoinedthestaffoftheIASBin2001.Inthattimeherresponsibilitieshaveincluded
finalisingImprovementstoIFRS(akeystepintheEUsdecisiontoadoptIFRSin2005),developing
andfinalisingIFRS7FinancialInstruments:Disclosures(theIASBsfirstprinciplesbaseddisclosurestandard),writingpartIofIFRS9FinancialInstrumentsandtheexposuredraftLeasesandleadingtheIASBsprojectonpostemploymentbenefits.
PriortojoiningtheIASB,AndreawasemployedbyAnderseninLondon,firstinaclientfacing
assuranceroleandtheninUKtechnicalpolicy.AndreaisaqualifiedmemberoftheInstituteof
Chartered
Accountants
in
England
and
Wales.
She
also
holds
an
honours
degree
in
chemical
physics
fromEdinburghUniversityandapostgraduatequalificationinchemistryfromCambridgeUniversity.
Darrel Scott
BoardMember,IASBDarrelScottwasformerlyCFOoftheFirstRandBankingGroup,oneofthelargest
financialinstitutionsinSouthAfrica.Hehadresponsibilityforbothstatutoryand
regulatoryfinancial
reporting
under
the
Basel
IIAccords
and
served
on
various
Governance,Risk,OperationandStrategicCommitteesoftheGroup.
Mr.ScottwasalsoamemberoftheIASB'sInternationalFinancialReportingInterpretations
Committee(IFRIC),apositionfromwhichheresignedtobecomeanIASBmember,andwasformerly
amemberoftheIFRSFoundation'sStandardsAdvisoryCouncil(SAC),nowcalledtheIFRSAdvisory
Council.
Chris SpallPartner,KPMGChrisworksintheKPMGnetworksInternationalStandardsGroupinLondonandisa
memberofKPMGsglobalIFRSfinancialinstrumentsandinsurancetopicteams. Heis
alsoapartnerinKPMGintheUKsUSAccountingandReportingGroup,providing
supportto engagementteamsonbankaudits. Hepreviouslyworkedintheprofessionalpractice
departmentofKPMGintheUSinNewYorkandhasover20yearsexperienceinaccountingand
auditing.
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Erik van der Plaats
SeniorPolicyOfficer,FinancialInstitutionsUnit,DGMarkt,EuropeanCommissionErikvanderPlaatshasbeenworkinginthebankingUnitsince2008.Hismainfocusis
onbankaccounting. ErikwassecondedfortwoyearsasaSeniorFinancial
ManagementSpecialistwiththeWorldBankfrom2006till2008whereheworkedon
privatesector
financial
reporting
in
Europe
and
the
Central
Asia
Region.
From
1995
to
2006
Erik
workedattheEuropeanCommissionmainlyonfinancialreportingandauditpolicymakingatDG
InternalMarket.PriortojoiningtheEuropeanCommission,Erikworkedforsixyearsasan
independentconsultantonfinancialmanagementand3yearsasanexternalauditor.Erikholdsa
mastersdegreeinbusinesseconomicsfromtheFreeUniversityofAmsterdamandqualifiedasa
registeredauditor(RA)withRoyalNIVRAoftheNetherlands.
Martn Vzquez Surez
SeniorFinancialSectorSpecialist,WorldBankMartnVzquezSurezjoinedtheWorldBankinFebruary2010asseniorfinancial
sectorspecialistintheFinancialandPrivateSectorDevelopmentVicePresidency.In
thispositionhewasresponsibleforthecoordinationwiththeFinancialStabilityBoard
andhecurrentlyrepresentstheBankattheFSBSupervisoryIntensityandEffectivenessgroup,which
preparedtheFSBrecommendationsonGlobalSystemicallyImportantFinancialInstitutions(GSIFIs).
MartnhasparticipatedinseveralWorldBank IMFFinancialSectorAssessmentProgram(FSAP)
jointmissionsassessingthequalityofbankingregulationandsupervisioninexaminedcountries.
PreviouslyheservedeightyearsasBankofSpainsinspectorandasadvisortotheDirectorGeneral
ofSupervision.In2008,hewassecondedtotheEuropeanCentralBankasfinancialsupervision
expertto
provide
the
Director
General
of
Financial
Stability
with
analysis
and
advice
on
accounting
andsupervisoryissues.
HeholdsaPh.D.inBankingEconomicsfromtheUniversidadAutnomadeMadridandisCertified
AccountantofSpainsince2006.
Michael Wells
Director,IFRSEducationInitiative,IASBMichaelleadstheEducationInitiativeoftheIFRSFoundation.HequalifiedasaSouth
AfricanChartered
Accountant
with
Ernst
&
Young
before
being
seconded
to
work
out
ofthefirm'sDetroitoffice.
Hesubsequentlyjoinedtheacademicworld,andbecametheAssociateProfessorresponsibleforthe
financialaccountingsectionofaSouthAfricanUniversity.Healsoservedasanindependent
evaluatorofprofessionalqualifyingexaminations.
Heisamemberofanumberofinternationalaccountancyeducationadvisorygroups.
8/14/2019 IFRS Workshop Agenda.pdf
17/18
Regional IFRS Workshop for Regulators, 3-7 June, 2013, Vienna
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8/14/2019 IFRS Workshop Agenda.pdf
18/18
Regional IFRS Workshop for Regulators, 3-7 June, 2013, Vienna
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