amendments to form 1 - investment industry regulatory ... · on the amendments to form 1 resulting...
TRANSCRIPT
IFRS Amendments to Form 1
Maria Alano LasetOctober 2010 – Session 6 of 6Webinar
This sessionSession 6 will be on topics not previously covered.
Changes to Statement F – equity5
Changes to Statement E – income statement4
Other 6
Changes to Statement A – balance sheet3
Opening IFRS balance sheetPrescribed IFRS departures and prescribed accounting treatments
2
Overview of the changes to Form 1Planning for the changeover
1
CoverageSession #
22
Other changes include changes to Statements B, C and D, the audit report and the special compliance report
The objective of this session is:
To explain the changes to the regulatory statements that are notcontemplated under IFRS:→ Statement B – calculation of RAC→ Statement C – calculation of the EW thresholds→ Statement D – calculation of client free credits
To go over the changes relating to:→ Combined audit report→ Combined special compliance report on insurance, segregation and the
guarantee arrangements→ Deletion of certain disclosures:
- non-confirming dealer counterparties- non-confirming guarantors and - non-confirming securities locations
To highlight the changes to:→ Schedule 2 and→ Schedule 6
3
Form 1 Regulatory financial report has prescribed departures and prescribed accounting treatments.
NotesNotes
Financial statements
Statement DNot contemplated under IFRS
N/AClient free credit segregation
Statement CNot contemplated under IFRS
N/AEarly Warning excess and reserve
Statement BNot contemplated under IFRS
N/ARisk adjusted capital
Prescribed departureXCash flow
Statement FPrescribed accounting treatment – Does not permit certain OCI items
Changes in shareholders’equity
Statement EPrescribed departure -Contains terms and classifications not defined under IFRS
Income statement
Statement APrescribed departure -Contains terms and classifications not defined under IFRS
Balance sheet
Form 1Regulatory financial report
IIROCSpecial
purpose
StatutoryGeneral purpose
Statements
4
Changes to Statement BThere are no substantive changes. Changes are housekeeping and format-related.
5
Reclassification from capital to liabilitiesTo conform to IFRS, we reclassified subloan and capitalized leasehold inducement liability without affecting the calculation of RAC.
6
OLD Statement A NEW Statement A
Changes to Statement BHow we calculate RAC remains unchanged.
7
Statement B notes and instructionsClarify that we continue to net when calculating margin.
8
Statement B notes and instructionsTransferred the note relating to leasehold inducement to Statement B (from Statement A ).
9
Statement CSubstantially unchanged except for a few housekeeping changes.
10
Statement DSubstantially unchanged except for a few housekeeping changes.
11
Changes to Schedule 2Schedule 2 remains substantially unchanged.
12
Changes to Schedule 6Deleted the analysis of deferred income taxes
13
Certificate of UDP and CFOA minimum of two executives must certify.
14
Auditors’ reportOne report – for both parts I and II – with no substantive change
15
Combined special compliance reportIncludes new procedures to test the validity of guarantee arrangements in place and used for margin reductions during the year.
16
Additional supporting informationEliminate certain disclosure requirements.
17
New Statement A vis-à-vis AnalyticsBe mindful that the new balances will affect ratios, trends and quantitative factors.
18
- Increase- Decrease
Series of six webinars on the amendments to Form 1
resulting from the changeover to IFRS
Changes to Statement F – equity5
Changes to Statement E – income statement4
Other6
Changes to Statement A – balance sheet3
Opening IFRS balance sheetPrescribed IFRS departures and prescribed accounting treatments
2
Overview of the changes to Form 1Planning for the changeover
1
CoverageSession #
19
Who to contact:
[email protected] GomesFor technical issues, such as access to the IFRS website
Your panel auditorFor IFRS accounting issues
[email protected] Alano Laset
[email protected] RamcharanFor regulatory issues arising from the changeover to IFRS
Contact detailsWho to contactFor assistance
20