Welcome Address

Mr. S  Raman, Executive Director, Union Bank of India

Opening Remarks

Mr. Viren H Mehta, Director, Ernst & Young-India

Regulatory View and Perspective

Mr. P R  Ravi Mohan, General Manager, RBI

CEO Roundtable  
Mr. M S Sundara Rajan, CMD, Indian Bank
Mr. Albert Tauro, CMD, Vijaya Bank
Mr. K Harshan, Executive Director, The Federal Bank Ltd.
Mr. S S Ranjan, Dy. MD & CFO, State Bank of India
 

- IFRS transition status- current and future
- Current standard setting framework and status
- IFRS Convergence approach - India and other regions
- Task ahead for standard setters & What more is needed ?
Mr. V Kulkarni, Director - Head of Finance - UBS AG, India

How will your accounts look like:
- Indian GAAP balance sheet
- migration to IFRS balance sheet with key headers and reasons (major differences are then discussed below)
- other presentation and disclosure (IFRS 7, IAS 1 considerations)
Ms. Surekha Gracias, Director, Ernst & Young - India

Financial instruments classification[AS 30 (IAS 39)] :
- financial assets – same names but different outputs
- financial liabilities classifications and considerations
- implications for banks regarding liabilities
- practical aspects to consider such as tainting, embedded derivatives
- data collection - when to start collecting the required data?
- education for business areas on impacts eg. different valuation basis and impact on remuneration
Ms. Surekha Gracias, Director, Ernst & Young - India

Fair value measurement (AS 30 (IAS 39) :
- Indian GAAP fair value and difference to IFRS
- mid/bid, market price, model valuation
- fair value hierarchy and day 1 profits
- developments in fair value

Effective Interest Rate (AS 30 (IAS 39) and AS 9 (IAS 18)
- what goes into the effective interest rate
- different solutions for calculating, depending on system sophistication
- what can/should be done now, such as data gathering

Impairment (AS 30 (IAS 39)
- Indian GAAP vs IFRS
- how does impairment differ for corporate v retail (broadly significant vs individually insignificant)
- choices available to banks
- potential models available including difficulty of implementation (eg. system vs end user computing; LGD/PD vs roll rate type methodology)

Disclosures (AS 32 (IFRS 7)
- what are the new requirements ?
- Interaction with Basel II and other discloures
Mr. Ben Blomerley, Manager, Ernst & Young - India

Derivatives and hedging (AS 30 (IAS 39)
- basics of derivatives - why so important under IFRS (fundamental of why embedded derivatives, why hedge accounting)
- basics of hedge accounting
- basics of embedded derivatives
- what to do now for derivatives - decisions and health checks
Mr. Hemal Shah, Associate Director, Ernst & Young - India

IFRS Transition – Special Address Introduction by

Mr. N  S  Kannan, Executive Director and Chief Financial Officer, ICICI Bank

Mr. T V Mohandas Pai, Member of Board & Director - HR - Infosys Technologies Ltd  

Segmental Accounting - How different will it be
Mr. Ajay Mittal, Chief Accountant, ICICI Bank Ltd.

Session III- Concluding session

Industry Experiences Q & A
Ms. Surekha Gracias, Mr. Hemal Shah, Mr. Viren H Mehta, Mr. Dolphy D'Souza,
Mr. Ben Blomerley - Ernst & Young – India