CICA s Financial Reporting Conference for the Mining Industry

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1 REGISTER NOW NEW FOR 2012! CICA s Financial Reporting Conference for the Mining Industry december 5-6, 2012 THE hilton toronto hotel toronto, on Join your peers and leading experts for a unique opportunity to discuss important challenges facing the mining industry! Special Keynote Address by: Donald R. Lindsay, President and Chief Executive Officer Teck Resources Limited CONFERENCE SPONSORs to date:

Learn from industry and professional services leaders who will share their insights on matters that are

Who should attend This conference is a must for anyone working in, or providing professional services

are directly responsible for accounting and reporting public accountants and other professional advisors

Advisory Committee Gordon Cummings, D+H Group LLP, Vancouver Ronald P.

2 Learn from industry and professional services leaders who will share their insights on matters that are critical to you. Who should attend This conference is a must for anyone working in, or providing professional services to, the mining industry, including: chief financial officers and other senior financial executives who are directly responsible for accounting and reporting public accountants and other professional advisors securities regulators, financial analysts and other financial statement users The 2012 Conference Advisory Committee Gordon Cummings, D+H Group LLP, Vancouver Ronald P. Gagel, Corporate Director, Toronto John Gingell, Teck Cominco Limited, Vancouver Lee Hodgkinson, KPMG LLP, Toronto Michael Lepore, Barrick Gold Corporation, Toronto P. Mary Olynik CICA, Toronto 2 Register online at:

3 Why you should attend Get the most up-to-date practical information available. Learn from industry and professional services leaders who will share their insights on matters that are critical to you. Conference speakers from across North America and the UK include: Donald R. Lindsay, President and Chief Executive Officer, Teck Resources Limited Michael Stewart, Director of Implementation Activities, IASB Cameron McInnis, Chief Accountant, Ontario Securities Commission Rick McCreary, Senior Vice President, Corporate Development, Barrick Gold Corporation Deborah McCombe, Executive Vice-President, RPA Inc. Stephen Eddy, Director, Corporate Development, IAMGOLD Corp. Edward G. Lee, Managing Director, Valuation Advisory Services, Duff & Phelps LLC Partners in public accounting firms who specialize in the mining industry.. and many more Earn up to 14 hours of CPD Credits. Sponsorship Opportunities CICA CPD events provide you with an excellent opportunity to build credible exposure with a carefully targeted audience of decision makers, while building and reinforcing one-to-one business relationships. For information on Sponsorship and Exhibitor opportunities, please contact Manuela Downey at manueladowney@rogers.com For a full range of CICA Continuing Education products, and sponsorship information, visit the CA Learning Centre at Register online at: 3

4 Day One Wednesday December 5, :30 8:30 REGISTRATION AND CONTINTENTAL BREAKFAST agenda 8:30 9:30 Opening Keynote Address Donald R. Lindsay, President and Chief Executive Officer Teck Resources Limited Sponsored by: 9:30 10:30 Reserves and Resources Understanding the Different Codes and Their Impact on Financial Reporting This session will discuss the technical reporting requirements under certain international reserves and resources standards including CRISCO and and the related financial reporting considerations. It will cover hot topics as well as recent and potential future developments related to reserve and resource reporting. It will also highlight the key financial reporting considerations related to reserves and resources and their implications for areas such as impairment and depreciation. Speakers: Deborah McCombe, RPA Inc.; Blake Langill, Ernst & Young LLP 10:30 11:00 BREAK 11:00 12:15 Joint Ventures and Deferred Stripping Are You Ready? The practical challenges of applying IFRS 11 Joint Arrangements and IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine will be discussed in this session, including: how facts and circumstances affect the classification as joint operations or joint ventures identifying components of the ore body applying the amortization requirements to capitalized stripping costs Speakers: Michael Stewart, IASB; James Lusby, PricewaterhouseCoopers LLP 12:15 1:30 NETWORKING LUNCH 1:30 2:45 Valuations Part I: Methodologies and Techniques Used in the Mining Industry The valuation of mineral properties has a significant impact on financial reporting, from purchase price allocations resulting from a business combination to subsequent goodwill and noncurrent asset impairment tests. This session will explore valuation methodologies and techniques that are commonly used in the industry, including: preparing an estimate of expected future cash flows approaches to estimating appropriate discount rates, commodity prices and foreign exchange impacts income tax broad-based assumptions the interplay between reserve reports and valuations prepared for accounting purposes reconciliation of accounting valuation results with the market capitalization for publicly traded entities Moderator: Edward G. Lee, Duff & Phelps LLC Speakers: Stephen Eddy, IAMGOLD Corp.; Derek Melo, KPMG LLP 2:45 3:00 BREAK 3:00 4:30 Valuations Part II: Applications to Financial Reporting Building on Part I, this session will explore the financial reporting and disclosure implications of valuations prepared for impairment calculations, including determining the appropriate level of testing (i.e., asset), CGU or grouping of CGUs, and providing sensitivity and other required disclosures. Moderator: Edward G. Lee, Duff & Phelps LLC Speakers: Jay Patel, Ernst & Young, LLP; Vik Kalra, Sherritt International Corporation 4:30 6:00 NETWORKING RECEPTION 4 Register online at:

5 Day Two Thursday, December 6, :30 8:30 CONTINTENTAL BREAKFAST agenda 8:30 10:00 Hot Topics Part I: Exploration and Evaluation Companies This session will feature an interactive panel discussion on a number of accounting areas relevant to the mining exploration companies, in particular the application of IFRS 6 Exploration and Evaluation expenditures, the determination of a functional currency for a mining company in the exploration stage and later (IAS 21), accounting for flow-through shares, and whether a transaction should be accounted for as an asset acquisition or business combination. Moderator: John S. Cochrane, Raymond Chabot, Grant Thornton LLP Panelists: Armand Capisciolto, BDO Canada LLP; Anna Moreton, MacKay LLP; Guy Mahaffy, Ginguro Exploration Inc. 10:00 10:30 BREAK 10:30 12:00 Hot Topics Part II: Development and Production Building on the previous session, a new panel will review the practical application of a number of issues unique to the mining industry as companies move into development and production. Specific issues that will be discussed include the capitalization of start-up costs, what gets capitalized and when does commercial production begin, how bi-product credits are treated, revenue recognition issues, metal streaming contracts and valuation of inventory, and depletion of mining assets. Moderator: Kenneth A. McKay, KPMG LLP Panelists: Susan Bennett, Deloitte & Touche LLP; Dean Braunsteiner, PricewaterhouseCoopers LLP; Andrea Freeborough, Kinross Gold Corporation 12:00 1:15 NETWORKING LUNCH 1:15 2:15 Regulatory Environment An Update This session offers a unique opportunity to hear, directly from a senior member of Canada s securities regulatory community, about significant issues related to financial reporting in Canada s capital markets, including areas relevant to the mining sector. Topics will include impairment under IAS 36, critical judgments and estimation uncertainty, financial reporting complexity, current developments relating to emerging market issuers and highlights of current regulatory initiatives. Speaker: Cameron McInnis, Chief Accountant, Ontario Securities Commission 2:15 4:00 (includes 15 minute break) Who Reads this Stuff Anyway? A Panel Discussion of Users Perspectives with Respect to Financial Reporting Financial statement users are a diverse group having many varied needs with respect to financial reporting. In this session, various financial statement user groups including a sell-side analyst, a corporate business development executive, and an institutional investor, will discuss their needs and wants with respect to financial reporting, as well as highlighting their issues and concerns with the current disclosures companies are providing. Panelists: Rick McCreary, Barrick Gold Corporation; Greg Barnes, TD Securities; Lawrence Smith, CIBC Global Asset Management 4:00 4:45 The Road Ahead. The Future Direction of IFRS A look ahead to the IASB s new agenda, including prospects for the extractive activities project. Speaker: Michael Stewart, IASB 4:45 Conference Adjourns Conference details are correct at time of posting. For the most up-to-date information on speakers, agenda items etc., please visit: Register online at: 5

6 Conference Accommodation and Registration Information Registration Fee: $1,590* (plus applicable taxes) *Registration fee includes BONUS post-conference CD-ROM (The CD-ROM will be available approximately 6-8 weeks post-event) HOTEL INFORMATION: The Hilton Toronto Hotel 145 Richmond Street West Toronto, ON CALL: (reference CICA ) The Hilton Toronto Hotel is across the street from the Four Seasons Centre for the Performing Arts, and walking distance to the CN Tower, the entertainment, fashion, theatre and financial districts. This downtown Toronto hotel will accommodate your every need. Hotel reservations are the responsibility of the participant. CICA has arranged for a special conference rate of $ (plus applicable taxes). Please quote CICA to receive a special rate when booking a room. Early reservations are recommended. After November 12, or until our room block is full, reservations are accepted on a space and rate availability basis. CANCELLATION POLICY If you are unable to attend the event for any reason, you may substitute, by arrangement with the Participant Coordinator, someone else from your organization, or, you may cancel up to 14 calendar days prior to the event start date for a full refund. Cancellations received within 14 calendar days of the event start date will be subject to a $150 administration fee (plus applicable taxes). PLEASE NOTE: All cancellations must be made in writing, either by mail to CICA Continuing Education, 277 Wellington Street West, Toronto, ON M5V 3H2, Attn: Liliia Dubko, Participant Coordinator, or faxed to (416) , or ed to registration@cica.ca. Note, too, that credit card information will be required again for cancellations. PROGRAM DISCLAIMER: The speakers, topics, program format and events are correct at the time of printing. If unforeseen circumstances occur, the CICA reserves the right to alter or delete items from the program, or cancel the conference and refund all registration fees. 6 Register online at:

7 REGISTRATION FORM YES! Please register me for CICA s Financial Reporting Conference for the Mining Industry, December 5-6, 2012 The Hilton Toronto Hotel Toronto, ON REGISTRATION FEE: I have read and understand the registration information, and enclose my payment of: $1,590* + $ HST = $1, ( ) * includes BONUS FREE post-conference CD-ROM - available approximately 6-8 weeks post-event. First Name (preferred) Middle Initial(s) Badge Name (If different than First Name) Surname I am a: CA Other Accounting Designation (please specify): Lawyer Other (please specify) Title Firm/Employer Department Business Address City Province Postal Code Business Phone Business Fax Special dietary or other requirements (needs, not preferences): YOU MUST HAVE AN ACCOUNT TO REGISTER: I have an up-to-date account/profile with CICA YES NO If NO, visit the CA Store at and click on my account (top right-hand corner), and either Login and ensure your profile information is current, or, create a profile if you do not have an account. PAYMENT OPTIONS: Credit Card: Visa MasterCard AMEX Card No. Expiry Date Name of Cardholder YOUR PRIORITY EVENT CODE: MC-B 1 GST #R HST # RT0001 WAYS TO REGISTER: Register online at: Register BY PHONE: or toll-free Mail Registration Form AND PAYMENT to: CICA Conference Office c/o and Logistix 1345 St. Clair Ave. W., 3 rd floor Toronto, ON M6E 1C3 Register online at: 7

VIEWPOINTS: Applying IFRSs in the Mining Industry

VIEWPOINTS: Applying IFRSs in the Mining Industry BACKGROUND In May 2013, the International Accounting Standards Board (IASB) published a new Interpretation IFRIC 21 Levies, which provides guidance on