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Key IFRS Presentation and Disclosure Requirements

07 Oct - 08 Aug, 2019

Francistown                                   Gaborone                                Gaborone Date:     15th – 16th October       Date:    7th – 8th October      Date: 21st – 22nd October Venue: Cresta Marang                 Venue: Cresta Marang           Venue:  Fairground Holdings        Time:  0830-1630hrs                   Time: 0830-1630hrs             Time: 0830-1630hrs   Introduction The Botswana Accountancy Oversight Authority (BAOA) which oversees financial reporting in Botswana, has on multiple occasions engaged with the Botswana Institute of Chartered Accountants (BICA) on the need to improve financial reporting in the Country especially that of State Owned Entities (SOE’s).International Standard on Auditing (ISA) 200 paragraph 13 (j) indicates that management or those charged with governance of an organisation are responsible for the preparation of financial statements in accordance with the applicable financial reporting framework. Ensuring that quality financial statements that comply with international standards are prepared is therefore the responsibility of management, and not that of the auditors. Management therefore has to be proactive in finding solutions to address this skills gap. One of the initiatives BICA as a Regulator has embarked upon to support organisations in addressing this problem is to develop training targeted at upskilling Chief Financial Officers and their teams so that they can better support their employers by shouldering the responsibility for financial statement preparation. We expect every BICA member CFO to participate with at least one of their team members. We believe that this training should lead to improved financial reporting and feedback from BAOA. CFOs will gain a deeper understanding of the most important IFRS disclosure and presentation requirements for preparing financial statements currently. This two-day interactive workshop helps participants to ensure that financial statements prepared under IFRS will comply with both current and forthcoming IFRS disclosure requirements. The workshop will provide a detailed coverage of the IFRS presentation and disclosure requirements including any changes introduced in recently issued IFRS. Examples and practical exercises are used throughout the workshop to illustrate and reinforce the key learning points and to highlight some of the allowed alternative presentations. The program answers questions such as • What are the IFRS requirements relating to presentation and disclosures? • In which areas are alternative presentations allowed? • What are the most important issues to consider when preparing disclosures? • How do the presentation and disclosure choices made affect investor perceptions? • What are the upcoming changes in IFRS and when will they be effective? • How might future disclosure practice change to reflect the IASB’s revised new Conceptual Framework and criticisms of current financial statement disclosures?   Learning Objectives • Apply the IFRS presentation and disclosure requirements to the preparation of fully compliant IFRS financial statements. • Specify the allowed alternatives in presentation of the key elements and demonstrate sound selection decisions in given scenarios. • Explain the merits of different presentation choices from the perspective of the IASB and investors. • Prepare appropriate disclosures, applying the IFRS requirements. • Differentiate between the current presentation and disclosure requirements, those under the new and amended standards and those likely under future IFRS changes.   Topics • Understanding IFRS Disclosure and Presentation Requirements • IASB’s philosophy • Level of anticipated user understanding • Operational Considerations • Selecting alternatives • Use of checklists • Addressing apparent non-compliance • Financial Statements and Related Disclosures • IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors  • IAS 10 Events after the Reporting Period • IAS 24 Related Party Disclosures • IAS 32 Financial Instruments: Presentation • IAS 40 Investment Propertty • IAS 36 Impairment of Assets • IAS 37 Provisions • IFRS 3 Business Combinations • IFRS 7 Financial Instruments: Disclosures • IFRS 12 Disclosure of Interests in Other Entities • IFRS 13 Fair Value Measurement • IFRS 15 Revenue from Contracts with Customers • IAS 20 Government Grants • IFRS 16 Leases Who Should Attend • Preparers of financial statements on IFRS framework • Reviewers of financial statements including auditors, consultants, financial advisers, bankers, audit committee members and regulators. • Academics. Facilitators Profile: Eugene is a Chartered Management Accountant by training. He is a member of the Chartered Institute of Management Accountants and a Fellow member of the Botswana Institute of Chartered Accountant. He is a Certified IFRS consultant, having completed the Kaplan IFRS Professional Development programme. He is currently studying the final level of the CFA program to enhance his knowledge and skills in corporate finance and Investments. Eugene has consulted extensively on IFRS application for organisations in the Southern African region in mining, Telecoms, financial services, Energy, Education and Tourism industries. Eugene started his accounting career with a large Zambian Internet Service Provider and acquired extensive experience in the National electricity utility before deciding to follow his passion and move into academia and consulting. He has over 15 years’ experience in accounting academic and consulting. He currently facilitates IFRS workshops on behalf of BICA and ACCA Botswana. He serves in the following capacities at the Botswana Accountancy Oversight Authority (BAOA): Chairperson of the Financial Reporting & Corporate Governance Working Group and Member of the Education and training committee of BAOA. Eugene also serves as a member of the technical standard setters’ forum at the Pan African Federation of Accountants (PAFA) which is the mother body for Professional Accountancy Bodies in Africa. He has also served in various committees of BICA. Over the years Eugene has been involved in managing complex consolidation and financial instruments engagements for various companies in Botswana. More recently, Eugene has helped several public interest entities with implementation of IFRS 9, 15 and 16. He has rendered numerous expert independent opinions on IFRS matters to public interest entities including the Public Accounts Committee of the Botswana Parliament. Eugene is currently the Academic Director, School of Finance and Professional Studies, Botswana Accountancy College where he lectures on all the senior financial reporting papers. The College has consistently achieved better than global pass rates, especially for financial reporting in the various professional accounting qualifications. He also lectures International Business Strategies on Master’s Programs offered by Botswana Accountancy College in collaboration with the UK University Partners. Cover fees P 2, 900.00 (BICA Members) & P 3, 180.00 (Non BICA Members) inclusive of VAT 10% discount to payments on or before the 20th  September 2019. To find out more and book your place contact Veronica Mogapi or Tshegofatso Nkepu.   Tel.  +267 3972992 / Fax. +267 3972982 or Email: events@bica.org.bw, tnkepu@bica.org.bw Francistown: Thato Thipe or Orebeile Seboka.  Tel.  +267 2418280 / Fax. +267 2418263 or Email: tthipe@bica.org.bw, oseboka@bica.org.bw Please note that payment should be made before the day of the seminar. Cancellations should be made 2 working days before the seminar otherwise a member is subject to full payment. If payment is made electronically, please forward proof of payment to BICA.  

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FORENSIC AUDIT PRACTISES

19 Sep - 20 Sep, 2019

Gaborone Date:19th & 20th  September 2019 Venue: Masa Square Hotel Time: 0830-1630 hours FORENSIC AUDIT PRACTISE The biggest world accounting scandals experienced in the last three decades have induced a crisis of confidence in financial reporting practices and effectiveness of corporate governance mechanisms. There has been a change in the game plan; the field of Forensic Accounting has since gained popularity because by integrating accounting, auditing and investigative techniques, it gives a realistic approach to gaining a deeper understanding of what is going on behind the scenes in financial statement fraud. In this two-day workshop, participants will learn about the role of Forensic Accounting in preventing, detecting and investigating fraud in their respective organizations. Some of the topics to be covered include; • Audit, Investigation and other Forensic accounting terminology • Difference and similarities between Auditors and Forensic Accountants • Difference between Audit and Investigation • Integrating Forensic Accounting & Corporate Governance to manage fraud risk • Overview of Fraud theories, i.e. Fraud Triangle • Key factors to put forensic auditing into perspective • Auditing principles and standards • Generally accepted accounting practice • Risk assessment and prevention PROFESSIONAL PROFILE Nkobi Romeo Benjamin, MSc, CFE has more than 17 years’ experience in corporate fraud investigations, risk management, anti-money laundering and control of terrorist financing; prevention, detection and investigations thereof. Mr. Benjamin has a solid background in investigations of corruption and economic crimes. He is a seasoned fraud risk management trainer and has been providing training to institutions like Botswana Institute of Chartered Accountants (BICA). Benjamin has held several senior positions with several organizations; Head of Group Fraud Risk with Letshego Holdings Limited, Country Security & Investigations Manager with BancABC Botswana.Other positions include Forensic Manager at Stanbic Bank Botswana, wherein he joined from the Directorate on Corruption and Economic Crime (DCEC), as Senior Anti-Corruption Officer. Benjamin is an associate member of the Association of Certified Fraud Examiners (ACFE), as well as Association of Certified Anti-Money Laundering Specialists (ACAMS). Benjamin is a locally and internationally renowned trainer in fraud risk management and anti-money laundering awareness for financial institutions and other organizations. He is a repeated presenter at the Annual ACFE African Fraud Conference & Exhibition, South Africa. Romeo Benjamin is a graduate of the University of Derby, UK with a MSc in Strategic Management. Benjamin also holds a postgraduate certificate in Enterprise Risk Management, from Botswana Accountancy College (BAC). Other qualifications include a BA Humanities – University of Botswana (Environmental Science & French), as well as Post Graduate Diploma in Education (PGDE). He also holds several professional qualifications from the University of Johannesburg, RSA; post graduate Diploma in Criminal Justice & Forensic Investigations, Ant-Money Laundering Control, Compliance Management, and Corporate Governance. He is a Certified Fraud Examiner (CFE). He is currently pursuing a PhD in Management with the Texila American University.   Cover fees P 2,900.00 (BICA Members) & P 3,180.00 (Non BICA Members) inclusive of VAT 10% discount to payments on or before the 9th September 2019. To find out more and book your place contact Veronica Mogapi or Tshegofatso Nkepu.  Tel. +267 3972 992 / Fax.+267 3972 982 or email: events@bica.org.bw, tnkepu@bica.org.bw Francistown: Thato Thipe or Orebeile Seboka.  Tel. +267 2418 280 / Fax.+267 2418 263 or email: tthipe@bica.org.bw; oseboka@bica.org.bw Please note that payment should be made before the day of the seminar. Cancellations should be made 2 working days before the seminar otherwise a member is subject to full payment. If payment is made electronically, please forward proof of payment to BICA.  

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