5th IFRS Regional Policy Forum Bali, 23-26 May 2011

The Theme:
Toward One Global Standard in Asia-Oceania:
The Challenges and Opportunities of IFRS Adoption in Asia Oceania Countries

Many countries in the Asia-Oceania region will be converging to the International Financial Reporting Standards (IFRS). Some countries have already adopted the IFRS since 2000, while others such as Malaysia, Indonesia and Singapore have set the year 2012 as the target year for the full adoption/convergence of IFRS. Year 2011 is the crucial year for these countries moving to IFRS, as it is the year of final preparation. Many regulators and accounting standard setters in the region face challenges in adopting the international standards. This event seeks to bring together policy makers, regulators and national standards setters from countries in different stages of their IFRS adoption roadmap to share and learn from one another’s experiences in adopting the global standards, both the challenges faced and the opportunities gained.

Objective of the meeting

Discuss the benefits and opportunities of adopting a global reporting standard

· Benchmark platform to compare how Policy Makers, Standard Setters and Regulators work together towards the adoption of a global accounting standard.

· Share common implementation experiences and challenges faced by Policy Makers, Standards Setters and Regulators in the Asia-Oceania region and how they were resolved.

· Strengthen the commitment of Asia Oceania regions in adopting IFRS.
Provide opportunities for increased dialogue and collaboration between jurisdictions in the Asia Oceania region, which will serve to further strengthen the influence of the region in the international arena.

1. Time and Place:

23 - 26 May 2011 at Discovery Kartika Plaza Hotel, Kuta Beach, Bali Island.

Target participants

Around 150-250 delegates which are:
• Policy Makers
o Ministry of Finance/Government
o Central Bank
o Tax Authority
o Capital Market Oversight Body
o Financial Institution Oversight Body
• Others
o Accounting Standards Setters
o Association of Accountants
o Accounting Academics
o Public Accountants/Auditors

AGENDA

23 May 2011

Schedule	Activities
08.00 – 08.30	Registration and Morning Refreshment
08.30 – 10.30	IASB Technical Session on Revenue and Financial Instruments The session would be presented by the IASB member
10.30 – 11.00	Coffee Breaks
11.00 – 12.30	Opening Ceremony by Prof. Dr. Mardiasmo, the Chairman of the Indonesian Institute of Accountants Opening Speech by Mr. Aki Fujinuma, the Vice-Chairman of International Accounting Standards Committee Foundation Keynote Speech and Opening Remarks by Mr Budiono, Vice President of the Republic of Indonesia*
12.30 – 13.30	Lunch
13.30 – 15.00	Panel Session 1 The panel will be discussing on the opportunities and challenges of IFRS adoption/convergence and the imperative role of Accounting Standards Setters The speakers for this session would be: Sir David Tweedie - The Chairman of International Accounting Standards Board Ms. Rosita Uli Sinaga - The Chairperson of the Indonesian Accounting Standards Board Mr. Ikuo Nishikawa - The Chairman of Accounting Standards Board of Japan Mr. Liu Yuting* - The Director-General of Accounting Regulatory Department, Ministry of Finance of China Mr. Amarjit Chopra* - The President of Institute of Chartered Accountants of India Moderator: Ms. Euleen Goh – The Chairman of Singapore Accounting Standards Council
15.00 – 15.30	Afternoon Refreshment
15.30 – 17.00	Panel Session 2 The panel will be discussing on working with tax regulatory authorities on adopting the IFRS The speakers for this session would be: Ms. Judy Morris* - The Assistant Commissioner Large Business and International, Australian Taxation Office Mr. Mansor B. Hassan* – The Director of International Tax Department, Inland Revenue Board Malaysia Mr. Insun Yoo* - The Deputy Director of International Cooperation Division, Nation Tax Service, Republic of Korea Mr. Fuad Rahmany – The Chair of Directorate General of Taxes of Republic of Indonesia

Schedule	Activities
	Moderator: Mr. Mohammad Faiz Azmi – The Chairman of Malaysian Accounting Standards Board
19.00 – 22.00	Gala Dinner Welcome Speech from the Governor of Bali Speech by Sir David Tweedie

AGENDA

24 May 2011

Schedule	Activities
08.30 – 09.00	Registration and Morning Refreshment
09.00 – 10.00	Panel Session 3 The panel will be discussing on the role of market regulators regarding the opportunities and challenges of IFRS adoption/convergence The speakers for this session would be: Ms. Etty Retno Wulandari – The Head of Bureau of Accounting Standards and Disclosure Mr. Jason George* - The Senior Financial Sector Specialist, Bank of International Settlements, Representative Office of Asia-Pacific Mr. Greg Tanzer* - The Chairman of the Asia-Pacific Regional Committee, International Organization of Securities Commission The representative from Hong Kong market regulatory body Moderator: Ms.G.A.Indira – Executive Researcher, Directorate of Banking Research and Regulation.
10.00 – 10.30	Speech 1 This session will share the experience of the Australian Stock Exchange on the benefits of adopting the IFRS The speaker would be the representative of the Australian Stock Exchange
10.30 – 11.00	Tea Breaks
11.00 – 12.00	Panel Session 4 The panel will be discussing on the opportunities and challenges of IFRS adoption/convergence and the impact to the companies

Schedule	Activities
	The speakers for this session would be: Mr. Sudiro Asno – The Chief Financial Officer of PT. Telekomunikasi Indonesia Tbk. Ms. Chng Sok Hui – The Chief Financial Officer of DBS Bank Ltd, Singapore Representative from Korea/India companies Moderator: Mr. Roy Iman Wirahardja – The Vice-Chairman of Indonesian Financial Accounting Standards Board
12.00 – 12.30	Speech 2 The session will be presenting the opportunities and challenges of IFRS adoption/convergence for a banking regulator The speaker would be Mr. Edward Gerald* - The Financial Stability Board
12.30 – 13.30	Lunch
13.30 – 14.30	Panel Session 5 This session will be discussing on the opportunities and challenges of IFRS adoption/convergence – regarding the issue on the mobility of auditors and also the preparation on the auditing standards to audit IFRS based companies The speakers for this session would be: Mr. Tham Sai Choy - the Managing Partner of KPMG LLP, Singapore Representative from China auditing profession Representative from International Federation of Accountants Representative from Philippines Certified Public of Accountant Moderator: The representative from New Zealand
14.30 – 15.30	IFRS Foundation Strategy Review This review will deliver the current development from the meeting of IFRS Foundation and IASC Trustee regarding Strategy Review Consultation Document The review will be presented by: Mr. Aki Fujinuma – The Vice-Chairman of International Accounting Standards Committee Foundation Mr. Tom Seidenstein – The Chief Operating Officer of IFRS foundation
15.30 – 16.00	Coffee Breaks

Schedule	Activities
16.00 – 16.15	Concluding Remarks The speech for concluding remarks will be delivered by Mr. David Tweedie – The Chairman of International Accounting Standards Board
16.15 – 17.00	Closing Ceremony Closing Speech: Mr. Agus Martowardojo – The Ministry of Finance Presentation of token of appreciation to speakers and moderators by Mr. Ito Warsito - The Chairman of the IFRS RPF steering committee. Forum Communiqué and arrangements for the next Forum and Closing Remarks by Ms. Rosita Uli Sinaga - The Chairperson of Indonesian Accounting Standards Board
*In Confirmation

The Agenda for IAI International Seminar 25-26 May 2011

Day 1 : 25 May 2011	Agenda	Other information
08.30-09.00	Registration	Refreshment and coffee will be available
09.00-10.30	Current Update on IFRS Progress and also on Indonesia’s convergence progress	IASB Member or DSAK Member
10.30-12.00	International Standards on Financial Instruments: Does it really going to be less complicated? IFRS being discussed: IAS 32: Financial Instruments: Presentation IAS 39: Financial Instruments: Recognition and Measurement IFRS 7: Financial Instruments: Disclosure IFRS 9: Financial Instruments	IASB Member/Staff of DSAK Member
12.00-13.00	Lunch
13.00-15.00	Implementation of Financial Instruments Standards: Case Study from Indonesia and Singaporean Bank	CFO from one of Indonesian Listed Bank.
15.00-17.00	The Impact of Financial Instruments Standards for Non-Bank Entity IFRS being discussed IFRS 4 : Insurance Contract IAS 26 : Accounting and Reporting by Retirement Benefit Plan	Member of DSAK CFO from Insurance Company CFO from Pension Fund
Day Two: 26 May
08.30-09.00	Registration	Refreshment and coffee will be available
09.00-12.00	Transition to IFRS: Lesson Learned from Neighbour Countries · IFRS Standards for Extractive Industry and Agriculture: Lesson Learned from Australia IFRS Related: IFRS 6 Exploration and Evaluation of Mineral Resources IAS 41 Agriculture Speaker: Kevin Stevenson: Chairman of the Australian Accounting Standard Board · Challenges in adopting IFRS for Real Estate Industry: Lesson Learned from Malaysia and Singapore IFRS related: IFRIC 15 : Agreements for the Construction of Real Estate IAS 23 Revenue IAS 11 Construction Contract Speakers: Chairman of MASB and ASC Moderator: A.N.S. Kosasih – Chief Financial Officer of Perum PERHUTANI
12.00-13.00	Lunch
13.00-15.00	Tax Planning for Companies in Transition to IFRS Companies from Neighbour Countries Companies from Australia, Malaysia and Singapore	CFO from one of neighbour country (Malaysia, Singapore or Australia) Tax Authority or International tax Consultant
15.00-17.00	The Impact of IFRS Convergence to Taxation for Indonesian Company	Directorate General of Taxes of Indonesia.

Investment:

Meeting* & Seminar:

Rp 5.800.000,- (IAI Member)

Rp 6.000.000,- (Non IAI Member)

*Seat is very limited, first come first serve basis

*Participants eligible as observer at IFRS Regional Policy Forum Meeting

Seminar Only:

Rp 3.500.000,- (IAI Member)

Rp 3.800.000,- (Non IAI Member)

Supported by:

· IFRS Foundation

· ASEAN Federation of Accountants (AFA)

· Ministry of Finance of The Republic of Indonesia (Kementrian Keuangan Republik Indonesia)

· Government Accounting Standards Boards (Komite Standar Akuntansi Pemerintahan)

· Indonesia Capital Market Supervisory Agency (Bapepam – LK)

· Indonesia Stock Exchange (Bursa Efek Indonesia)

· The Accountant and Appraiser Supervisory Center Ministry of Finance Republic of Indonesia (Pusat Pembinaan Akuntan dan Jasa Penilai - Kementrian Keuangan)

For More Information:

Indonesian Institute of Accountants (IIA)
Grha Akuntan
Jl. Sindanglaya No. 1 Menteng Jakarta Pusat
Telp. 715 444 55, 391 9089, 31904232 (Hunting) Ext.777/333/114
Fax (021) 3900016 / 7245078
Email :registrasi@iaiglobal.or.id / pendidikan@iaiglobal.or.id
Homepage : www.iaiglobal.or.id