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Now entering its 11th and biggest year SMi's 'Accounting & Auditing for PPP/PFI Projects' conference will once again examine all the latest developments and issues in accounting and auditing practices for PPP and PFI projects, both in the UK and abroad. 2008 is shaping up to be a very important year for changes in accountancy practices for PFI projects and SMi's conference is perfectly timed to update all market participants on the latest developments and how they will affect business.

The move to Internataional Financial Reporting Standards will have a significant impact on PFI financial reporting. The way PFI accounts are prepared and delivered will take on a very different nature under IFRS. The publication of the IFRIC 12 guidance has posed further questions on the adoption of these new procedures. Hear the thoughts and opinions of leading industry experts at 'Accounting & Auditing for PPP/PFI Projects' and learn how best to prepare your business for IFRS.

Topics to be discussed will include:

  • The PFI tendering process
  • Best practice for model auditing
  • Risk management in the auditing process
  • Refinancing
  • IFRIC 12 Consideration
  • The banking perspective

Benefits of attending include:

  • Identify the key 2008 developments in accountancy practices for PPP/PFI Projects in the UK
  • Achieve new levels of best practice
  • Invest in the future of your PPP project by learning the key steps for a successful audit
  • Educate yourself on new legislation, procedures and guidelines
  • Assess the latest taxation issues and the effect that they will have on your business
  • Evaluating existing projects, the impact of auditing changes and refinancing gains

Confirmed speakers include:

  • Dr James Robertson, Director, PFI, National Audit Office
  • John Reed, Project Director, 4ps
  • Jerome Brice, Director, Mazars
  • Edward Yescombe, Director, Yescombe Consulting
  • Professor Jean Shaoul, Professor of Public Accountability, Manchester Business School
  • Paula Jennings, Director, BDO Stoy Hayward
  • Ivan Wong, Bank of Scotland Infrastructure Finance
  • Michael Pryor, Assisstant Director, Ernst & Young
  • Derek Salkeld, Principal Risk Analyst, DS & A
  • Gordon Westley, Technical Manager, Audit Commission
  • Zoe Kay, Director, Deloitte & Touche LLP
  • David Wilson, Associate Director, Grant Thornton UK LLP
  • Glenn Richer, Partner, Rising Curve LLP

Conference programme

8:30 Registration & Coffee

9:00 Chairman's Opening Remarks

James Robertson

James Robertson, Chief Economist and Director PFI Value for Money Studies, National Audit Office

9:10 PRACTICAL IMPLICATIONS OF ON VERSUS OFF BALANCE SHEET TREATMENT FOR LOCAL GOVERNMENT PROJECTS

John Reed

John Reed, Project Director, 4ps

  • Budgets and financial statements
  • Affordability
  • Prudential indicators
  • 9:50 BEST PRACTICE FOR MODEL AUDITING PPP/PFI

    Jerome Brice

    Jerome Brice, Director, Mazars

  • Latest approaches to ensuring financial model correctness at bid stage and throughout the project life
  • What assurance does the model audit give to senior funders, shareholders, and public sector procurers.
  • Tips for identifying best practice in financial models and the approach of the model auditors
  • 10:30 Morning Coffee

    11:00 THE PFI TENDERING PROCESS

    James Robertson

    James Robertson, Chief Economist and Director PFI Value for Money Studies, National Audit Office

  • Timelines and costs - how can they be improved?
  • Making sure potential bidders tender
  • Impact of competitive dialogue
  • 11:40 REFINANCING

    Edward Yescombe

    Edward Yescombe, Director, Yescombe Consulting Ltd

  • What is refinancing?
  • How do investors benefit?
  • How should an authority share this benefit?
  • What are the VFM issues?
  • 12:20 Networking Lunch

    13:50 IFRIC 12 CONSIDERATION

    Paula Jennings

    Paula Jennings, Director, BDO Stoy Hayward

  • What is IFRIC 12?
  • Financial asset treatment
  • Intangible asset treatment
  • SPV and finance costs
  • Tax treatment
  • 14:30 TAXATION ISSUES

    Zoe Holgate

    Zoe Holgate, Director, Deloitte & Touche LLP

  • Tax implications of IFRIC 12
  • Withdrawal of Industrial Building Allowances
  • Secondary markets and infrastructure funds
  • Latest updates
  • 15:10 PFI AND PPP: AN AUDITORS PERSPECTIVE

    Gordon Westley

    Gordon Westley, Technical Manager, Audit Commission

  • Who are the Audit Commission and why are we interested in PPP?
  • Some of the auditors concerns about PFI & PPP
  • The challenge of managing the contract
  • Why the private sector needs to understand the public sector
  • What's on our agenda?
  • 15:50 Chairman’s Closing Remarks and Close of Day One followed by Afternoon Tea

    8:30 Registration & Coffee

    9:00 Chairman's Opening Remarks

    Michael Pryor

    Michael Pryor, Assistant Director, Ernst & Young

    9:10 ACCOUNTING FOR PPP/PFI INVESTMENTS

    Ivan Wong

    Ivan Wong, Associate Director, Bank of Scotland

  • Current accounting options
  • Impact of accounting options
  • Future developments (IFRIC)
  • 9:50 RISK MANAGEMENT IN THE AUDITING PROCESS

    Derek Salkeld

    Derek Salkeld, Chairman, D S & A Ltd Risk Analysis

  • Problems and pitfalls
  • Ensuring a successful audit
  • 10:30 Morning Coffee

    11:00 FINANCIAL BLACK HOLES

    Jean Shaoul

    Jean Shaoul, Professor of Public Accountability, Manchester University

  • Reporting
  • Disclosure to the public
  • Cost
  • 11:40 DELIVERING AND REPORTING VALUE FOR MONEY

    Glenn Richer

    Glenn Richer, Partner, Rising Curve LLP

  • Establishing VFM
  • Benchmarking and market testing
  • Continuous improvement
  • VFM reporting
  • 12:20 Networking Lunch

    13:50 FOCUS: SCOTLAND

    Michael Pryor

    Michael Pryor, Assistant Director, Ernst & Young

  • NDPO Update
  • Impact of new guidelines
  • Update on projects in progress
  • The Scottish Futures Trust
  • 14:30 SPV STRUCTURES

    David Wilson

    David Wilson, Project Finance, Grant Thornton

  • What are the different delivery models?
  • Common pitfalls and how to avoid them
  • The public sector as shareholder - practical lessons from LIFT and BSF
  • 15:10 EXAMINING THE IMPACT OF IFRS ON FINANCING OPTIONS

    Andy Mudd

    Andy Mudd, Principal Consultant, Association of Public Service Excellence (APSE)

  • Can the impact of IFRS be accurately predicted?
  • What alternative financing options are available?
  • How can councils best prepare for the changes?
  • 15:50 Chairman’s Closing Remarks and Close of Day One

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    Workshops

    IFRS – Impact on UK PFI
    Workshop

    IFRS – Impact on UK PFI

    The Hatton, at etc. venues
    31st January 2008
    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

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    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

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