Home
overview
Following extensive talks with leading industry players, SMi has identified the need to provide a forum where critical issues and opportunities in Accounting & Auditing are addressed.

The Aims & Objectives of the Conference

It is often accounting problems that have sounded the death knell for PFI schemes. It is the aim of this conference to offer guidance to the pitfalls that public and private sector accountants should steer clear of. Topics covered at the conference will include accounting, auditing, legal and tax issues, which will be discussed both in theoretical terms and through practical current PFI case studies.

Benefits of Attending
. Identify the key issues and requirements for good accounting and auditing practices
. Gain insight into project developments both public and private
. Understand the various accounting issues and their implications on projects
. Raise awareness of standards and implemented practices
. Evaluate the effectiveness of PFI/PPP Projects

A unique opportunity to learn from leading industry experts including:
· David Finlay, Head of PFI Development, National Audit Office
· Danny Daniels, Seconded to Refinancing Taskforce HSBC, Director of Structured Capital Markets, Partnerships UK
· Damian Murray, PFI/PPP Specialist, Audit Commission
· John Lyle, Corporate Projects Accountant, Dumfries & Galloway Council
· Dr John Bosnell, New Accommodation Programme Director, Government Central Headquarters (GCHQ)
· Peter Cox, PFI Project Manager, Kent Police Authority
· Stan Mitchell, Chairman, British Institute of Facilities Management
· Alec Briggs, Project Leader, Highways Agency

“Very well organised, presented conference with a good blend of depth and breadth”
Simon Back, Financial Accountant, Laing Investments -previous SMi delegate

Conference programme

8:30 Registration and Coffee

9:00 Chairman's Opening Remarks

Brian Madden

Brian Madden, Director, Strata Business Development

9:10 THE NATIONAL AUDIT OFFICE APPROACH TO EXAMINING PFI/PPP PROJECTS

David Finlay

David Finlay, Head of PFI Department, National Audit Office

  • An issue analysis approach to assessing PFI/PPP deals
  • O common pitfalls in cost comparison models
  • Assessing all the benefits and disbenefits
  • Ongoing project evaluation after the contract is let
  • 9:40 REFINANCING PFI PROJECTS

    Danny Daniels

    Danny Daniels, Seconded to Refinancing Taskforce HSBC, Director of Structured Capital Markets, Partnerships UK

  • The Refinancing Taskforce
  • Impact of the Code of Conduct
  • The efficiency of refinancing as a mechanism for recycling capital
  • Progress with refinancing and current issues being addressed
  • 10:20 OFF BALANCE SHEET ACCOUNTING FOR PFI

    David Crowley

    David Crowley, Managing Director, PFI Solutions

  • Key issues with regards to off balance sheet accounting
  • How to identify and where to allocate gains/losses
  • Audit scandals, pushing liabilities out of the public eye
  • Movement of investment off balance sheet, due to PFI
  • Government position and talk on PPP/PFI
  • 11:00 Morning Coffee

    11:20 PANEL DISCUSSION

    David Finlay

    David Finlay, Head of PFI Department, National Audit Office

    David Crowley

    David Crowley, Managing Director, PFI Solutions

    Brian Madden

    Brian Madden, Director, Strata Business Development

    John Bosnell

    John Bosnell, New Accommodation Programme Director, Government Central Headquarters (GCHQ)

    12:00 ROLE OF THE AUDITING COMMISSION

    Damian Murray

    Damian Murray, PPP/PFI Specialist, Audit Commission

  • Supporting well-managed innovation
  • ‘Strategic regulation’ - the audit and inspection of PPPs
  • ‘Following the public pound’ – PPPs and accountability
  • Legible auditing practices for projects
  • PPP/PFI audit commissioning
  • Overview of implemented regulations and reforms
  • 12:40 Networking Lunch

    14:00 CURRENT ISSUES IN PFI ACCOUNTING

    Neil Rae

    Neil Rae, Associate Director, KPMG

  • Fixed assets versus finance debtors
  • Accounting for finance debtors
  • Accounting implications of refinancing
  • 14:40 CURRENT LEGISLATION GOVERNING PRACTICE

    John Lyle

    John Lyle, Corporate Projects Accountant, Dumfries & Galloway Council

  • Changes in the legislative environment
  • Impact of the Prudential Code
  • A genuine competitor to PFI?
  • The VFM Auditing Requirements
  • Accounting treatment – has anything really changed?
  • 15:20 Afternoon Tea

    15:40 AUDITING RISK MANAGEMENT

    Derek Salkeld

    Derek Salkeld, Risk Analyst, DS & A

  • Good and bad risk management
  • What to look for in the process and in the records
  • What to look for in the models and the results
  • What to look for in the practitioners
  • 16:20 CASE STUDY

    John Bosnell

    John Bosnell, New Accommodation Programme Director, Government Central Headquarters (GCHQ)

  • Breakdown of UITF – public and private
  • Specific sector policy and priority criteria
  • Wider government policy and priority criteria
  • General criteria (outputs, strategies and plans, risk transfer, financial appraisal, PFI credit amount, deliverability and contract documentation)
  • Conclusion and overview on criteria
  • 17:00 Chairman’s Closing Remarks and Close of Day One

    8:30 Re-registration and Coffee

    9:00 Chairman's Opening Remarks

    Paul Mountain

    Paul Mountain, Partner, Martineau Johnson

    9:10 REFINANCING GAINS

    Edward Yescombe

    Edward Yescombe, Director, Yescombe Consulting

  • What is a refinancing?
  • Refinancing gains - myth and reality
  • Calculating and sharing gains
  • 9:40 PANEL DISCUSSION

    David Finlay

    David Finlay, Head of PFI Department, National Audit Office

    Danny Daniels

    Danny Daniels, Seconded to Refinancing Taskforce HSBC, Director of Structured Capital Markets, Partnerships UK

    Edward Yescombe

    Edward Yescombe, Director, Yescombe Consulting

    Paul Mountain

    Paul Mountain, Partner, Martineau Johnson

    10:20 CASE STUDY

    Peter Cox

    Peter Cox, PFI Project Manager, Kent Police Authority

  • Project overview
  • Helping the client to understand PFI
  • Support during the procurement process
  • Selection of advisers
  • Key issues
  • 11:00 Morning Coffee

    11:20 TAX ISSUES FOR PFI/PPP PROJECTS

    Paul Bartlett

    Paul Bartlett, Director of Real Estate Tax Group, Deloitte & Touche

  • “Fixed Asset” corporation tax treatment
  • “Contract Debtor” corporation tax treatment
  • The approach to tax during the bid process
  • Changes to tax treatment during operation
  • Sharing the tax benefits with the public sector
  • 12:00 A CONSTRUCTIVE VIEW

    Alan Gilbertson

    Alan Gilbertson, Chairman Public Sector Procurement Panel, Construction Industry Council

  • The design process in PFI
  • Assessing design quality
  • Valuing design
  • Specifying your requirement
  • Future developments
  • 12:40 Networking Lunch

    14:00 ACCOUNTING TREATMENTS FOR PROJECTS

    Stan Mitchell

    Stan Mitchell, Chairman, British Institute of Facilities Management

  • FM as part of the design process
  • Standards and measurements of FM
  • Project Life Cycle impact of FM
  • The importance of FM
  • FM first not last!
  • 14:40 CASE STUDY

    Alec Briggs

    Alec Briggs, Project Leader, Highways Agency

  • Insight into latest project developments
  • Key issues raised
  • Highlighting the problems encountered with projects
  • Overview on key principles and procedures
  • Future developments in DBFO procurement
  • 15:20 Afternoon Tea

    15:40 VAT FOR PFI/PPP PROJECTS

    Julian Whitehouse

    Julian Whitehouse, Director, Deloitte & Touche

  • VAT liability of PPP/PFI
  • The impact of the Public Sector’s VAT recovery position
  • Contract debtor and the interaction with VAT
  • West Lothian SPV Ltd case
  • 16:20 VALUATION OF ASSETS

    Neil Rutledge

    Neil Rutledge, Client Services Director, Grant Thornton

  • Discounted cashflow method - overview & issues
  • Other valuation methods
  • What are the issues for primary and secondary investors?
  • Transparency - why is it important and what barriers exist?
  • 17:00 Chairman’s Closing Remarks and Close of Conference

    +

    Workshops

    Off Balance Sheet Accounting
    Workshop

    Off Balance Sheet Accounting

    The Hatton, at etc. venues
    30th January 2004
    London, United Kingdom

    The Hatton, at etc. venues

    51/53 Hatton Garden
    London EC1N 8HN
    United Kingdom

    The Hatton, at etc. venues

    HOTEL BOOKING FORM

    Title

    SubTitle
    speaker image

    Content

    Title


    Description

    Download

    WHAT IS CPD?

    CPD stands for Continuing Professional Development’. It is essentially a philosophy, which maintains that in order to be effective, learning should be organised and structured. The most common definition is:

    ‘A commitment to structured skills and knowledge enhancement for Personal or Professional competence’

    CPD is a common requirement of individual membership with professional bodies and Institutes. Increasingly, employers also expect their staff to undertake regular CPD activities.

    Undertaken over a period of time, CPD ensures that educational qualifications do not become obsolete, and allows for best practice and professional standards to be upheld.

    CPD can be undertaken through a variety of learning activities including instructor led training courses, seminars and conferences, e:learning modules or structured reading.

    CPD AND PROFESSIONAL INSTITUTES

    There are approximately 470 institutes in the UK across all industry sectors, with a collective membership of circa 4 million professionals, and they all expect their members to undertake CPD.

    For some institutes undertaking CPD is mandatory e.g. accountancy and law, and linked to a licence to practice, for others it’s obligatory. By ensuring that their members undertake CPD, the professional bodies seek to ensure that professional standards, legislative awareness and ethical practices are maintained.

    CPD Schemes often run over the period of a year and the institutes generally provide online tools for their members to record and reflect on their CPD activities.

    TYPICAL CPD SCHEMES AND RECORDING OF CPD (CPD points and hours)

    Professional bodies and Institutes CPD schemes are either structured as ‘Input’ or ‘Output’ based.

    ‘Input’ based schemes list a precise number of CPD hours that individuals must achieve within a given time period. These schemes can also use different ‘currencies’ such as points, merits, units or credits, where an individual must accumulate the number required. These currencies are usually based on time i.e. 1 CPD point = 1 hour of learning.

    ‘Output’ based schemes are learner centred. They require individuals to set learning goals that align to professional competencies, or personal development objectives. These schemes also list different ways to achieve the learning goals e.g. training courses, seminars or e:learning, which enables an individual to complete their CPD through their preferred mode of learning.

    The majority of Input and Output based schemes actively encourage individuals to seek appropriate CPD activities independently.

    As a formal provider of CPD certified activities, SMI Group can provide an indication of the learning benefit gained and the typical completion. However, it is ultimately the responsibility of the delegate to evaluate their learning, and record it correctly in line with their professional body’s or employers requirements.

    GLOBAL CPD

    Increasingly, international and emerging markets are ‘professionalising’ their workforces and looking to the UK to benchmark educational standards. The undertaking of CPD is now increasingly expected of any individual employed within today’s global marketplace.

    CPD Certificates

    We can provide a certificate for all our accredited events. To request a CPD certificate for a conference , workshop, master classes you have attended please email events@smi-online.co.uk

    Event Title

    Headline

    Text
    Read More

    I would like to speak at an event

    I would like to attend an event

    I would like to sponsor/exhibit at an event

    SIGN UP OR LOGIN

    Contact SMi GROUP LTD

    UK Office
    Opening Hours: 9.00 - 17.30 (local time)
    SMi Group Ltd, 1 Westminster Bridge Road, London, SE1 7XW, United Kingdom
    Tel: +44 (0) 20 7827 6000 Fax: +44 (0) 20 7827 6001
    Website: http://www.smi-online.co.uk Email: events@smi-online.co.uk
    Registered in England No: 3779287 VAT No: GB 976 2951 71


    Forgotten Password

    Please enter the email address you registered with. We will email you a new password.