CCR Committee Agenda
Feb 5th, 2008
11:00Am
Chair: / Alister Cowan, Vancouver ChapterVice Chairs:
Members
Susan Campbell, Toronto Chapter / Nancy Lala, Toronto Chapter / Neil Robertson, Calgary Chapter
Robert Eisner, Regina Chapter / Marc Malouin, Quebec Chapter / John Weerdenburg, Ottawa Chapter
Alternates / Guests
Jennifer Best-White
FEICanada
Michael Conway
Ramona Dzinkowski
Lindsay Collins
MEETING AGENDA: February 5,11:00am EST
Dial-in connection: (416) 640-4122(877) 579-4178Participant passcode: 552493#
1. Call to order and new member welcome- Attendance taken, no new members
Discussion Items
2.Review minutes of January 2008 meeting
- Minutes accepted as written.
3. Review/update rolling agenda/work plans
(a)AcSB: Financial Instruments amendments to section 1535, 3855, 3862 (Feb 29, 2008)
The question of whether or not the committee should be responding to this exposure draft was discussed. Consensus was that the committee should undertake the effort to respond and a response will be drafted by John Weerdenburg with the help of Marc Malouin.
(b)AcSB: Adoption of international financial reporting standards, IFRS 1 (Jan 9, 2008)
Alister Cowan will be following up with Paul Cherry and Peter Martin,with the help of Jennifer Best-White.
(c)IASB: IFRS 2, IFRIC 11- Group Cash Settled Share-Based Payment Transactions (March 17, 2008)
The committee decided that commenting on IFRS share based payment is necessary. Neil Robertson to draft a response.
(d)IASB: Amendments to IFRIC 23 – Distributions of Non-Cash Assets to owners (April 25, 2008)
(e)IASB: Amendments to IFRIC 24 – Customer contributions (April 25, 2008)
The question of whether the CCR should be responding to only IFRS issues or to all the IFRICs that are issued or to respond selectively to the IFRICs, was discussed. The consensus was that the CCR should respond to all IFRS related issues and selectively to IFRICs as they are relevant. Alister Cowan and Nancy Lala are going to begin working on these and the committee will revisit these IFRICs at the April meeting. A document sent from Frank D’Andrea will be sent to them by Lindsay Collins to aide them in their efforts.
- The committee discussed the upcoming CSA announcements re: filing in U.S. GAAP. While there are no dates as of yet, they will likely be announced after the next AcSOC meeting.
- Alister will follow up with Paul Cherry and Peter Martin in regard to the dates and process of getting free access to IFRS materials.
- Michael Conway brought up the issue of CCR membership. The discussion focused on attempting to increase the size of the committee as well as the depth (in terms of industries represented). Michael appealed to current CCR members to nominate others and encourage them to join the committee and he committed to making an effort to seek out new members within the National Office’s strategic partners. / A. Cowan
4. Other Business
- Environmental and Sustainability reporting
Ramona Dzinkowski reported that there is a National Breakfast Seminar series focused on environmental and sustainability reporting sponsored by PWC coming up in April and a CFERF Executive Research Study that will be released in the fall.
A new taskforce was assembled and includes: Alister Cowan, Ramona Dzinkowski and John Weerdenburg. Requests are to be sent to inquire as to whether Frank D’Andrea, Mike Harris (from PWC) and Allen Willis (from CICA) would like to join this taskforce as well.
Lindsay Collins will circulate an email to the entire committee asking for any interested members to volunteer to staff this taskforce.
- Accounting Standards Board – looking for new member. Revised date Feb 7, 2008
- Face-to-Face meeting, rescheduled toMay 15, in Toronto
Next Meeting: Wednesday March 5, 2008 / A. Cowan
Adjournment